Cash threat to flax mill
Developers bidding to restore Shrewsbury's derelict Flax Mill will face a deficit of more than £5 million if they take on the project, it was revealed today. Developers bidding to restore Shrewsbury's derelict Flax Mill will face a deficit of more than £5 million if they take on the project, it was revealed today. The crumbling landmark, which is set to be restored as part of a huge scheme to transform one of the town's main gateways, is not "commercially viable", according to borough council officers. A public inquiry this month could be another problem blocking the multi-million-pound redevelopment of the Grade I listed relic - the world's first iron framed building. Read the full story in today's Shropshire Star
A public inquiry this month could be another problem blocking the multi-million-pound redevelopment of the Grade I listed relic - the world's first iron framed building.
Council planning manager Geoff Harrison said several million pounds of extra funding would have to be found to make the restoration project attractive to developers.
Bus company Arriva is contesting a compulsory pur chase order the council issued on its depot, which is inc- luded in regeneration plans.
"It's running into a deficit of at least £5 million. Unfortunately the Flax Mill isn't commercially viable and it won't be unless we can move the bus depot," Mr Harrison said.
"Somehow the scheme will have to be subsidised by grants because it is unlikely a developer would take that risk. Heritage Lottery funding or European funding is an option. We are not writing off the scheme but we do need to explore other sources of funding.
"If we lose the CPO inquiry it will be a major stumbling block. Arriva are putting up a strong fight.
"We have got to make it happen and at the moment we look as though we're going to get there, but it's slow."
Flax Mill owner English Heritage and the council want to tear down the Ditherington Road depot as part of their plans to restore the crumbling mill.
But Arriva wants to keep its base. An independent ins- pector will decide if the CPO can go ahead at a six-day hearing, starting on May 22.
The council has agreed the purchase of all other buildings surrounding the mill. The depot is the last piece of property needed for the development. Mr Harrison said Arriva wanted to stay near the town centre and did not want to move to a new base in Harlescott.
By Tom Warren