Magdalen Street Money

A final Cabinet piece to wrap up ahead of the meeting of the WEIRD LibLab lot at the Town Hall next Wednesday.

It won’t quite be a busman’s holiday for the jobbing CBC politicos, but the Magdalen Street Bus Depot will certainly be on the agenda [pdf].

This is currently owned by CBC. It has a transport history dating back to trams in the mid 19th Century.

Some might say that public transport in Sunny Colch hasn’t improved since then.

Anyway – it’s currently the home for First Essex Buses.

But this is all about to change with the company relocating to the Hythe.

Finding another bus operator is funnily enough not an option being considered by CBC.

Instead the Cabinet report is proposing to flog the old First Essex site onto the highest (or best) bidder.

We’d love to tell you who has put their money on the Cabinet table, but as ever, these financial matters are blocked out for the Little People.

Don’t go worrying your pretty heads about it…

What we do know is that ‘residential and commercial development’ is the favoured option.

Think LIDL on the bottom floor, bloody Buy to Lets on the top.

And so CBC can look forward to an extra windfall for flogging on an old bus station.

If only it was located in the cash cow [ha!] that is the *ahem* Cultural Quarter…

But wait! What’s this?

The money has already been spent Comrades.

BUGGER.

“The land transaction will bring an important capital receipt to the Council which has already been allocated for reinvestment under the Councils Revolving Investment Fund.”

Predictably no details about which project.

Anyone here put a bid in for Magdalen Street?

The Chronic is looking for a new office space.