A £10 MILLION fund that St Helens Borough Council can use to buy land and buildings to help drive forward regeneration projects has been approved by senior councillors.

The Land and Property Acquisition Fund was agreed at a council cabinet meeting this week where a revised strategy, which aims to boost economic development and ensure future service provision in and around St Helens, was also adopted.

The regeneration strategy will play a part in developing St Helens and Earlestown town centres – both hit by the decline in retail and the high streets over the past decade and threatened further by the economic impact of the pandemic – and encouraging future investment.

The announcement comes months after St Helens Council signed a 20-year agreement with developer consortium English Cities Fund.

The local authority says the revised Land and Property Acquisition Strategy reflects recently published Government treasury guidance which supports the use of funds to deliver economic development and regeneration projects

The paucity of progress in developing St Helens town centre and the loss of traditional high street stores is regularly highlighted by Star readers as a huge cause for concern.

Among the strategy's aims will be ensuring there are enough sustainable homes and places of employment within the borough, and supporting environmental sustainability.

The funding comes from capital reserves designated for investment purposes.

In its published report, the council says it will “work with landowners, agents, development partners to ensure that each and every opportunity is available to secure land and property that is identified for strategic purposes”.

Cllr Richard McCauley, cabinet member for regeneration & planning, said the fund would be used “in circumstance where there is a clear and considered rationale to purchase land and property interests”.

He continued: “This strategy and fund put the foundations in place to make sure regeneration can happen quickly and efficiently and with the support of our strategic partner we can deliver the changes that the people and businesses of St Helens want to see.

“Our goal now is to support the local economy, develop future employment opportunities and make our town centres places people can be proud of. This is more important than ever given the impact of the last year and the fact national unemployment rates are now at the highest since 2016.”

Cllr McCauley added that "fragmented ownership is often the biggest challenge when bringing forward regeneration projects".

He added that the fund will be used in circumstance where there is a clear and considered rationale to purchase land and property interests.

Cllr McCauley added: “This strategy and fund put the foundations in place to make sure regeneration can happen quickly and efficiently and with the support of our strategic partner we can deliver the changes that the people and businesses of St Helens want to see.”