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Dereliction and Redevelopment
Counting the cost
Nottinghamshire County Council purchased the Depot site for a nominal sum of £1 on condition that 35 acres were cleared for a Business Park, 15 acres of which were then to be sold by the County Council to developers. The other 20 acres were to be returned to the Ministry of Defence to be sold off gradually and by stages. Frank Kerry described the way in which the development was funded:
“We had approximately £3 million in grant from the government. The total cost of the project was £3.5 million, but the principle cost to the County Council was putting the road in, and other ancillary work, which was not grant-aided. Before the project was completed we sold our 15 acres of the Business Park. The money we raised by the sale had to be sent back to the Department of the Environment as part of the exercise, to offset the cost of the project and ensure “Value for Money”. We actually did get quite a lot of extra money. 50% of the £30,000 it cost to transplant the Norwegian Maples for instance, and special grant for doing up the tatty buildings of the Heritage Centre.”
The Story > Chapter 9 > Section 9.08