Ownership of a town square has changed hands after a recent council decision.

Milton Keynes Council has agreed the freehold transfer of Wolverton Market Square to Wolverton and Greenleys Town Council (WGTC) for £1.

The handover will enable WGTC to provide “improved leisure and community activities” going forward, according to documents.

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Also included in the transfer is access to the war memorial.

For some years, WGTC has managed the square’s landscaping, and every year it erects a Christmas tree.

It wants ownership to “further develop the community of historic Wolverton” and to “enhance the social, economic and environmental well-being of the area”.

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MKC can transfer the land for £1 under powers that recognise the local benefit of a disposal, up to £2 million.

“The freehold transfer of the town square to the parish council will take place at the notional value of £1,” a council document.

“The council is able to transfer the land at less than best value through the use of well-being powers contained in the General Disposal Consent 2003, which allows for such a disposal where it benefits the economic, social or environmental well-being where the undervalue is up to a maximum of £2 million.”