Abingdon Gets A Fresh Boost With Bury Street Revamp Plan

12.00.00am GMT Wed 8th Nov 2006

Vale Liberal Democrats have welcomed the agreement signed with property investors Threadneedle over the refurbishment of the Bury Street precinct in Abingdon. Contractual negotiations over the refurbishment have been going on for several months as the Vale has sought to get the best deal for the precinct.

Under the agreement a new lease has been agreed with Threadneedle for the precinct and the company has undertaken to refurbish the shopping centre throughout.

The Vale owns the Bury Street site but the shopping centre is managed by Threadneedle under a long lease signed several decades ago.

Executive member Cllr Bob Johnston welcomed the deal, saying: "This matter has been on the table for almost as long as I have been on the Council because it has taken 18 years to resolve. I am of course delighted and I believe it is the very best deal that could have been negotiated."

"There has been a lot of concern among shop keepers in the precinct over the negotiations. Details of these discussions could not be publicised as the deal is commercial in confidence. Threadneedle have now agreed to undertake an extensive refurbishment of Bury Street, significantly improving its appearance. This is good news for Abingdon and I hope the town centre will see real benefits soon."