CHESHIRE West and Chester Council spent almost £20 million on buying Winsford Cross Shopping Centre.

The council announced last week that it had purchased Winsford Cross Shopping Centre and planned to ‘immediately set to work on the town centre’.

It has now been revealed that the council spent £19.75 million on the deal.

A spokesman for CWAC said: “The Council acquired various property interests from Winsford Cross Developments Ltd for the sum of £19.75 million.

“The purchase price includes Winsford Cross shopping centre and a number of potential development sites which, when combined with the Council’s existing land interests in Winsford town centre, provides significant opportunities for redevelopment to create jobs and bring new investment to the town.

“The purchase has been financed through a loan, the repayment of which will be underpinned by the strong rent roll from the shopping centre which has a high occupancy rate thus significantly limiting the Council’s exposure to risk.”