Two Conservative councillors have criticised Sefton Council after it was confirmed that the Bootle Strand has now been valued at £14.2 million – less than half of the reported £32.5 million the council bought it for in 2017.
The decrease in value of around £18.3 million has been slammed by two of Southport’s Conservative Councillors – Sir Ron Watson CBE and Sinclair D’Albuquerque – who are both members of the council’s Audit and Governance Committee.
The Audit and Governance Committee met on 15 September to discuss a range of issues, one of which being the Bootle Strand. Council officers shared a presentation in response to a report from Cllr Sir Ron, showing that the current value was estimated to be less than half of the amount they bought it for just four years ago.
Speaking following the meeting, Cllr Sinclair D’Albuquerque said: “It will come as no surprise to Southport Residents that value of the Bootle Strand has fallen yet again.
“We in the Conservative Group have been warning for years that the purchase of the Strand was a mistake, and now we’ve seen yet another reduction in value – bringing the total loss to around £18.3 million.
“The council also informed committee members that the Strand’s operational revenue loss for the past year has been £3 million – which will need to be met from council coffers – meaning less money for things like road repairs and social care. The council predict these
losses will continue for the next three years at least.
“This will come as a kick in the teeth to council residents in my ward who saw their council tax bills increase by 5% this year.”
Cllr Sir Ron Watson CBE added: “I have been raising my concerns at the lack of transparency and accountability at Sefton Council for some time now.
“The decision to buy the Strand was deeply flawed, as we warned at the time. Unfortunately for local tax payers, we have been proven right. The Labour Party in Bootle cannot be trusted to manage our town’s finances.
“My fellow Conservative councillors and I will continue to highlight Sefton’s waste and call for the better management of public money – as local residents will rightly expect.”
Cllr Ian Maher added: “As we have always stated the acquisition of the Strand Shopping Centre has and will remain a key regeneration project for Bootle and Sefton.
“Achieving this means having the vision, ambition and confidence to take the long-term view and being open and honest about how we intend to achieve it.
“Any current value is irrelevant as we have no plans whatsoever to sell the Strand, and never have.”