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Basingstoke Council considers £800,000 Costa Coffee purchase | Basingstoke Council considers £800,000 Costa Coffee purchase |
(35 minutes later) | |
A council has been called "ludicrous" for considering spending nearly £800,000 on leasing a drive-through coffee shop. | A council has been called "ludicrous" for considering spending nearly £800,000 on leasing a drive-through coffee shop. |
Basingstoke and Deane Borough Council wants to purchase a 25-year lease on a Costa Coffee branch next door to a new indoor skydiving centre. | Basingstoke and Deane Borough Council wants to purchase a 25-year lease on a Costa Coffee branch next door to a new indoor skydiving centre. |
The council forecasts recouping the money in 11 years by charging the franchisee £64,000 a year in rent. | The council forecasts recouping the money in 11 years by charging the franchisee £64,000 a year in rent. |
Opponents say the money should be used to support local trade and business. | Opponents say the money should be used to support local trade and business. |
The Airkix Skydiving Centre is set to open in July at the Basingstoke Leisure Park. The company currently has centres in Milton Keynes and Manchester. | The Airkix Skydiving Centre is set to open in July at the Basingstoke Leisure Park. The company currently has centres in Milton Keynes and Manchester. |
Once complete, the Costa Coffee branded branch would be operated by franchisee Life Coffee Cafes. | |
Empty shops | Empty shops |
Funding for the £786,000 purchase would come from the council's Invest to Grow reserve, a £1.25m budget available for supporting building projects. | |
Labour councillor Paul Harvey said: "There's currently 24 empty shops at the top end of Basingstoke town centre. | Labour councillor Paul Harvey said: "There's currently 24 empty shops at the top end of Basingstoke town centre. |
"The council has only made £200,000 available in the last year for that and is now proposing spending nearly four times as much on supporting a commercial enterprise. | "The council has only made £200,000 available in the last year for that and is now proposing spending nearly four times as much on supporting a commercial enterprise. |
"Set against a climate of cuts to services and other spending, it seems an utterly ludicrous decision." | "Set against a climate of cuts to services and other spending, it seems an utterly ludicrous decision." |
Council head of resources Kevin Jaquest said: "This proposal builds on previous activity in the town's property market to drive regeneration. | Council head of resources Kevin Jaquest said: "This proposal builds on previous activity in the town's property market to drive regeneration. |
"It provides an attractive investment return from the proposed capital outlay." | "It provides an attractive investment return from the proposed capital outlay." |
The council's cabinet will debate the proposal on 21 May. | The council's cabinet will debate the proposal on 21 May. |
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