RECENTLY, Stockland Group, the property consortium which owns Billingham Town Centre, reported a $1.8 billion trading loss.
There are now reports that it intends to sell its UK assets.
This latest news could represent yet another major setback to the start of the long delayed Billingham town centre redevelopment.
Stockland was expected to submit a master-plan to Stockton Borough Council this autumn.
It is now over four years since I was assured by the Cabinet member for redevelopment at a full council meeting that consultation with the Billingham town centre developers were at an advanced stage.
The latest excuse for delay from the council was to blame the economic down-turn.
However, the recently completed Thornaby town centre redevelopment appears to have been immune from this.
There are 11 councillors representing Billingham wards on Stockton Borough Council. None has ever complained in the press about the delay in the Billingham town centre redevelopment.
Keith Dewison, Billingham.
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