Opposition unite over land swap questions

CONCERNS have been raised that a proposed city centre land swap does not represent value for money for tax payers.

- By HANNAH RICHARDSON

Leicester City Council wants to trade sites with a fellow landowner to allow further regeneration of the area around the Phoenix Cinema.

The deal would involve the authority taking ownership of land which previously housed Big John's Autos, between Midland Street and Southampton Street.

In turn, it would hand over land it owns between Queen Street and Southampton Street to developer Rakal Ltd, which wants to build homes there.

The swap also comes with a £400,000 price tag for the authority, however.

The council says that independent valuations have shown the land it currently owns is worth less than that which it wishes to take on, with £180,000 agreed to bridge the gap.