QUIZ: Did these things cost more than North Somerset Council’s £38m retail park?
PUBLISHED: 09:26 09 March 2018 | UPDATED: 09:26 09 March 2018
North Somerset Council this week confirmed it spent tens of millions in borrowed money to buy a retail park in Worle.
The council has paid £37.95milllion to buy the North Worle District Centre, hoping to make a profit of hundreds of thousands each year which will be pumped back into services like adult social care.
The retail park, which includes Sainsbury’s, TK Maxx, the Parish Pump pub and five smaller retail units, was bought using a £50million bank loan.
The council has confirmed shoppers will not need to pay for parking.
Council leader Nigel Ashton said the authority ‘needs to find alternative ways of raising money’ with Government funding set to disappear in 2019.
But the whopping fee got us at the Mercury thinking, how does it stack up to other pricey assets? Have a go at our quiz to find out.