Councillor describes shopping centre as “a financial millstone” as £1.65m roof repairs agreed
16/12/2025
Others defended the centre purchase as part of the town centre’s regeneration
At last night’s full meeting of Cherwell District Council a decision to spend £1.65m of tax-payers money fixing the roof at Castle Quay was agreed.
Despite the decision being passed unanimously, Councillor Ian Middleton addressed the meeting highlighting this as one of the reasons why he had long believed the Council taking complete ownership of the shopping centre had been a mistake.
He said: “This scheme has become exactly what I warned it would become: it’s a financial millstone requiring repeated injections of council cash to keep it afloat.
“Apart from the prospect of the PV installation, tonight’s decision is not about ambition or regeneration, it’s mostly about damage control. It’s not a further investment to grow or improve the district.
“We are spending £1.6m simply to stop an already degenerating asset from deteriorating further. This is a liability that everyone in Cherwell is paying the price for.”
Councillor Middleton felt this money would have been better spent elsewhere, citing areas such as regenerating High Streets, mitigating the effects of climate change and local flooding, additional support for housing and homelessness prevention.
But others disagreed with the stance taken by Councillor Middleton. Councillor Eddie Reeves – the leader of the Conservative group defended the decision to purchase Castle Quay and subsequently move there.
He said: “We accrue a great deal of benefit from having moved out of Bodicote House … and having moved here.
“In moving here we have contributed, I believe, meaningfully to the regeneration of this town. That is a view that is shared widely across the political spectrum – I believe it’s shared by the Labour group and I think it’s even shared by the Liberal Democrat group.
“Councillor Middleton referred to himself and others having raised concerns of these kinds. With respect, Sir, you raise them entirely in isolation and you continue so to do.”
The investment in the roof works at Castle Quay comes as the Council consults on proposals to enable it to produce a balanced budget for next year, with cost saving measures including reducing the frequency with which householders’ green general waste bins are collected and ceasing grant payments to Banbury museum.
Published: by the Banbury FM News Team
Reader's opinions
Leave a Reply
K Hartwell On 16/12/2025 at 2:35 pm
If the council took full ownership they should of allowed for repairs to be ongoing .It needs to be full of shops to make the money for the repairs not passed back to tax payers who struggle to buy what they need unless using online means or shopping elsewhere .
Oxford shopping centre is thriving with the eateries being on the outside and shops in the centre . I’m sure this would also bring more business to the light as in close proximity.
Lynne Shawyer On 16/12/2025 at 2:36 pm
They tried running the centre before unsuccessfully so why did they think they could do it any better this time ???
Deborah Beecroft On 16/12/2025 at 5:02 pm
The only way to make castle quay viable is to generate new businesses .
Too many stores have closed already… there is nothing to attract shoppers .
Rod Bowes On 18/12/2025 at 1:31 pm
The council has contributed to the hollowing out of Banbury by allowing out of town development, such as Gateway and by continuing to increase parking charges in the centre on an annual basis. Taking full ownership of Castle Quay would appear to be risky decision even in a time of financial growth, never mind the current environment.