Rotherham Council gets £1.5 million to buy Forge Island
The grant - which will initially come in the form of a bridging loan - is one of three successful bids from the council.
The other two were for road improvements near Wales, and the purchase of the Technology Centre at the Advanced Manufacturing Park.
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Hide AdRotherham Council sees the Forge Island area as 'key' to restoring the town's night time economy.
The authority's director of regeneration and environment Damien Wilson said: "We are already seeing interest around this site with new restaurants opening, and plans submitted to the council for further developments.
"We are looking forward to Forge Island becoming a vibrant leisure quarter to complement the existing retail quarter.”
The council hopes to sign a deal to buy the land from Tesco in February, before demolishing existing buildings to make the site more attractive to investors.
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Hide AdDetailed development proposals for the site are currently being prepared alongside the town centre masterplan. An initial draft of the plan is expected in April.
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