Castle Quay’s predicted income reduced by £1.17m
20/02/2025
Previous forecasts have been lowered
The income expected from the Castle Quay Shopping Centre looks set to be over £1m less next year than had been previously anticipated.
As part of Cherwell District Council budget plans for 2025-26 the income from the council owned shopping centre has been reduced by £1.17m compared to previous forecasts.
Next week Councillors must approve financial plans for the authority with the reduced income from Castle Quay having to be made up elsewhere so that a balanced budget can be agreed, as required by law.
A report for the meeting says the “council has made prudent assumptions about lease renewals within the current economic climate” but does add that “the potential benefits from increased footfall associated with the council’s head office relocating to Castle Quay” haven’t been factored in.
Its envisaged that the move from Bodicote House will bring significant benefits to the Council, Castle Quay and Banbury Town Centre itself.
Discussions are continuing with a number of organisations around letting vacant spaces within Castle Quay at commercial rates.
Published: by the Banbury FM News Team
John On 20/02/2025 at 4:15 pm
Waste of time. The centre is dead. Past its heyday. Should be on the dead mall series on YouTube. Just visit the Westgate in Oxford or centre MK. Much better.