Councils buying up shopping centres in a bid to boost the high street

By Heather Jameson | 02 January 2019

Councils have spent more than £800m buying shopping centres in the past three years, according to figures from commercial property firm Knight Frank.

One in three shopping centres are now being bought out by local authorities keen to prop up the ailing high street and make commercial investments. A total of 26 shopping centres have been bought by councils since 2016, 10 in 2018 alone.

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