'Active' talks over final bid for town centre sale

The sale of a town centre could go to a final offer soon, despite reports of a stalemate in a message from its owner.

Stockton Council intends to buy Billingham town centre outright, having previously intended to purchase part of it from current owners Sheet Anchor Evolve.

However Sheet Anchor Evolve said it was "unable to reach an acceptable position" with the council and would not sell to them, according to a director's message seen by the Local Democracy Reporting Service (LDRS).

Despite this, both the council and Sheet Anchor Evolve said they were still in "active discussions", with a formal offer yet to be made.

The LDRS has seen an email from Tony Donnelly, Sheet Anchor Evolve's town centre manager, sent to councillors and Stockton North Labour MP Chris McDonald this week.

"Unfortunately, despite ongoing discussions, we have reached an impasse with SBC [Stockton-on-Tees Borough Council], and as a result, we will not be proceeding with the sale to them at this stage," it read

The email said the owner was "looking at alternative options for sale" and added it was "unable to reach an acceptable position on the outstanding commercial terms".

Stockton Council's deputy leader Paul Rowling said: "We are still involved in negotiations with Sheet Anchor Evolve, the town centre's owners, and are yet to make a formal offer for the centre."

Councillor Barry Woodhouse wrote on social media that he and other councillors have had "further conversations with council cabinet members who have assured us we will still be putting a substantial final offer within the coming days".

A spokesperson for Sheet Anchor Evolve said there were "active discussions taking place, however these are confidential and we have nothing further to add at this time".

The council had tried to acquire the town centre previously, but it was bought in 2024 by London investment group Evolve Estates, now Sheet Anchor Evolve.

The council and company said they were working together as the authority planned to buy, demolish and clear the 1960s-built west precinct.

The town centre owner's plans to knock down, improve and replace "vacant, tired and dated" buildings were approved in March last year, with councillors welcoming the chance to "get rid of an ugly town centre".

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