'A commitment to sustainable retail': Havering Council announces purchase of Romford Marks and Spencer building
PUBLISHED: 09:00 08 August 2019 | UPDATED: 09:29 08 August 2019
Havering Council has announced it has bought the Marks and Spencer building in South Street.
The local authority has this morning confirmed the purchase of the retail unit, which is home to Marks & Spencer, in South Street, Romford.
The amount paid for the unit has not been released by the council due to its commercial sensitivity.
The move is part of the council's long-term vision for a transformed Romford - which it says revolves around protecting retail opportunities for businesses and residents through council-owned properties.
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The unit recently became available and the purchase was completed on Friday, July 26.
In addition to protecting and nurturing retail, the investment will provide an added revenue stream for the council.
Councillor Damian White, Leader of Havering Council, said: "I am pleased that the council has been able to step in and buy this unit.
"Not only will this investment create an additional income for the council, but it also means that Romford will continue to provide a quality shopping offer for residents, with much-loved British retailers such as M&S.
"The upcoming Romford Masterplan, which will be published in December, and future masterplans for other town centres, will further demonstrate our commitment to sustainable retail and local business in the borough."