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Finances for proposed future plans to be discussed.
The finances required for Wiltshire Council’s proposed future plans for St Stephen’s Multi Storey Car Park in Trowbridge will be discussed at a meeting next month (January).
Wiltshire Council is holding an Extraordinary Full Council meeting on 7 January 2026 from 10.30am to seek approval for capital funding to be allocated, which will enable the freehold transfer of St Stephen’s Multi-Storey Car Park. ?
On 7 October, the council’s Cabinet approved the freehold transfer of St Stephen’s multi-storey car park to the owner of the adjoining Castle Place Shopping Centre, Patet Ltd. The decision was subsequently called-in by 10 councillors, but ultimately the Overview and Management Scrutiny Committee resolved that it was taken in accordance with the council’s decision-making process.
Full Council will be asked to approve £2.5m of capital funding, which will allow the staged payments to take place. The proposal is that the first payment of £1m would be payable on transfer of the car park, and this would be funded by existing capital receipts generated from disposal of surplus assets.
Prior to deciding to transfer the car park, a number of options were considered, including:
- Dispose of the car park on the open market
- Retain the site and replace the car park
- Buy the shopping centre with a view to redevelopment
All of these options would cost Wiltshire Council, and therefore the tax-payer, more than transferring the freehold.
Based on the information it has, the council deems the offer to transfer the freehold to the Castle Place Shopping Centre Owner as the most advantageous financial and low risk option, particularly with the goodwill and pragmatism being shown by both sides.
At all stages of negotiation, the council has insisted on an overage provision to be included in any transaction. This means that if the site increases in value after the sale, the council will receive additional payment. In reaching an agreement in principle with the owner of the shopping centre, the terms of the final proposal will seek to protect the council's operation of the Castle Place Leisure Centre until the council chooses to close the leisure facility alongside the opening of the new leisure centre.?
To help inform the recommended approach, the council sought an independent valuation by Lambert Smith Hampton which sets out site’s liabilities exceed its value by £1.95m.
The £2.5m phased payment is based on achievement of these milestones:
- On transfer of the asset – £1m
- On permission to demolish the multi-storey car park?and?shopping centre – up to 18 months from transfer – £500,000
- On practical completion of demolition of the MSCP?and?shopping centre – up to 36 months from transfer – £500,000
- On?grant of planning permission – up to 48 months from transfer, longstop date (contractual deadline) 60 months from transfer – £500,000
Cllr Helen Belcher, Cabinet Member for Assets, said: “Cabinet has agreed to transfer the freehold of St Stephen’s Multi-Storey Car Park, and on 7 January Full Council will consider approving the funding needed to make this happen.
“We understand some people have concerns, but I want to reassure them that every decision has been informed by expert advice.
“We have carefully reviewed every option for the car park’s long-term future. None were straightforward and each have complex challenges, but transferring the freehold is the most financially responsible choice for taxpayers at a time when budgets are under pressure. It also gives the site the best chance to be redeveloped into something that benefits Trowbridge for years to come.
“I’m grateful to Patet Ltd for agreeing that we can now publish the details of the proposed deal showing that we are pursuing best value for taxpayers.”
The agenda and reports for the Extraordinary Full Council meeting can be found at Agenda - Democratic Services - Wiltshire Council.
Essential repairs of the car park continue to ensure it is safe to reopen. Work, which got underway in October, is progressing well. The work includes the installation of fabricated steel back-propping, with the car park anticipated to reopen in mid-January 2026, subject to the final stages of work taking place without any issues. A specific opening date will be confirmed in due course. During the closure, motorists have been able to park for free at Court Street and Church Street car parks. Normal charges will resume at these car parks when St Stephen’s reopens.
The repairs have been essential because a previous engineers’ report stated, “Based on the current limited visual survey, parts of the structure such as levels 2A and 3A should not remain open through the winter months of 2025, without localised propping and/or repairs being undertaken.” The council also wants to keep the leisure centre open until the new one opens.