Assets will be sold to pay for Armada Way
The Herald|September 07, 2024
COUNCIL BORROWING IN THE MEANTIME
WILLIAM TELFORD
Assets will be sold to pay for Armada Way

PLYMOUTH City Council will have to borrow nearly £10m and sell off millions of pounds of assets to pay for the regeneration of Armada Way.

Documents which will be presented to the council’s cabinet say further borrowing could have to take place until unnamed assets are sold.

On Monday, September 9, cabinet members will be asked to approve spending of £29,892,665 on the ambitious yet controversial, scheme.

The documents show that almost a third of the cost - £9,238,401 - will come from corporate borrowing. Another 29% will be paid from the sale of “surplus property”.

The council has “ring-fenced” assets which it is selling, estimated to be worth about £12,750,000, of which £8,716,449 will be used to pay construction costs on the Armada Way scheme. The council said: “The details of the specific assets being disposed of is commercially sensitive information, until such time that the disposals are completed.”

Bu hikaye The Herald dergisinin September 07, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye The Herald dergisinin September 07, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

THE HERALD DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Back to the future
The Herald

Back to the future

NEW ACADEMY COMPLEX IS NAMED AFTER JOHN FOULSTON

time-read
3 dak  |
November 23, 2024
'When you follow the Argyle for years, we lose more than we win, but I still enjoy it'
The Herald

'When you follow the Argyle for years, we lose more than we win, but I still enjoy it'

PLYMOUTH Argyle have yet to win away in the Championship after eight games this season.

time-read
5 dak  |
November 23, 2024
The Herald

'Far too many' buildings unsafe

A HOUSING minister has warned \"far too many\" buildings remain unsafe, with work to remove dangerous cladding yet to begin at almost 50% of monitored properties.

time-read
1 min  |
November 23, 2024
'We will never forget you'
The Herald

'We will never forget you'

THE family of Harshita Brella say they will \"never forget you till our last breath\" in a tribute released to the 24-year-old.

time-read
1 min  |
November 23, 2024
Hostel duo held over suspected 'poisonings'
The Herald

Hostel duo held over suspected 'poisonings'

POLICE in Laos have detained the manager and owner of a hostel in connection with the death of six people from suspected methanol poisoning, including a British lawyer.

time-read
1 min  |
November 23, 2024
British Airways 'sorry' as mum's meds put in hold
The Herald

British Airways 'sorry' as mum's meds put in hold

AIRLINE APOLOGY FOR 'EXTREME STRESS'

time-read
2 dak  |
November 23, 2024
Green light in bid for club marquee
The Herald

Green light in bid for club marquee

GREEN TAVERNERS GROUP PLAN APPROVED

time-read
2 dak  |
November 23, 2024
Appeal for festive gifts for Ukrainian children
The Herald

Appeal for festive gifts for Ukrainian children

SIMPLY WRAP SMALL ITEMS IN A SHOEBOX FOR DELIVERY

time-read
2 dak  |
November 23, 2024
'Tell us the truth' says nuclear test veteran's son
The Herald

'Tell us the truth' says nuclear test veteran's son

CALL FOR LABOUR TO DELIVER ON PLEDGE

time-read
4 dak  |
November 23, 2024
Residents in crackdown on anti-social behaviour
The Herald

Residents in crackdown on anti-social behaviour

'DRUG TAKING AND ALCOHOL ABUSE ON THE STREETS IN BROAD DAYLIGHT'

time-read
3 dak  |
November 23, 2024