Hambleton District Council’s says return from its commercial investment is on track despite the effects of the Covid-19 pandemic.
The authority says that in the last 12 months its investment in the Treadmills development in Northallerton generated a £1.4m revenue for the council.
There will also be significant annual rental income moving forward from the site’s tenants, it adds.
Leader of Hambleton District Council, Cllr Mark Robson said: “The vision for Treadmills is to provide a multi-use development that not only compliments the current high street offer, but also stimulates the evening economy of Northallerton.
“The scheme has achieved more than we could have possibly hoped, including high tech employment with C4Di and stimulating links with higher and further education.
“Despite the pandemic, it’s also generating a significant commercial return for the council which will be re-invested for the benefit of our residents.”
The development is seeing the former prison transformed into a business, education, retail and leisure hub.
Two supermarkets have already opened and the business hub C4DI opens this summer.
Be the first to comment