A REVIEW of land values on Lancaster city centre’s canal corridor site is under way as town hall chiefs renegotiate their agreement with developers Centros.
A planning inspector refused permission for the company’s previous retail-led plan for the site in December 2009, citing concerns for heritage assets and the possible impact on city retailers.
But the original development agreement by which Centros was to acquire land from Lancaster City Council expires next month, and councillors agreed in January that talks should take place, aimed at extending the deal.
The agreement would govern the way any new scheme should proceed, including public consultation, and would also cover the council’s use of compulsory purchase powers to obtain other land needed.
The council has appointed a district valuer to look at whether land values have changed since the original agreement, and the valuer’s conclusions should determine how much Centros pays for the land.
See the Lancaster Guardian (15-09-11) for full story.