Stoke's Labour-led council has sold-off critical greenspace across the city, including the green-lungs of the city, Berryhill Fields.
Stoke-on-Trent City Council has held a 19% stake in Stoke-on-Trent Regeneration Ltd for around 30 years. The company, which also includes developers as shareholds has overseen projects such as the re-development of Festival Park following the National Garden Festival in 1986, bringing millions of pounds into the city and creating thousands of jobs.
Now, in an attempt to avoid taking difficult decisions, the Labour-led Council have sold their 19% stake in the company to developers for a fee of around £5m.
The fire-sale will see key sites such as Berryhill Fields fall under the ownership of developers, bringing critical greenspace into private ownership, making it ripe for development.
Opposition Leader, Cllr Daniel Jellyman, Conservative, said:
"The fire sale of the Council's stake in Stoke-on-Trent Regeneration Ltd is a shortsighed act by a Labour administration who aren't willing to take the difficult decisions needed to out the council's finances on a solid footing. The sale of our stake in a multi-million pound company to multi-billion pound developers will see key sites, such as Berryhill Fields now fall under private ownership and puts vital greenspace at risk of re-development."
During a BBC Midlands Today report, which was aired 04/04/2024, it was confirmed that the Labour Group had declined to provide an interview as no one was available.