During the epidemic, the Bootle Strand shopping area lost around £3 million.
According to council statistics, the Strand shopping centre in Bootle lost approximately £3 million during the pandemic.
Between April 2020 and March 2021, the council-owned shopping centre lost £2.7 million, adding to the strain on Sefton Council’s resources caused by the epidemic.
However, this amount is on the low end of the council’s predicted losses, which ranged from £2.6 million to £3.1 million as recently as February of this year.
‘I felt he was unbeatable,’ claimed the mother of a 23-year-old man who died suddenly.
The Strand has lost money for the first time since the council purchased the shopping mall for roughly £32.5 million in 2017, as a series of lockdowns drove customers away.
However, while The Strand made the council £1 million in its first year, profits dropped dramatically in successive years, reaching just £30,000 the year before the epidemic.
Losses at the shopping center are expected to continue. Consultants predicted that The Strand will lose £3.6 million over the next three years in a business plan adopted by Sefton’s cabinet last month.
The council will struggle to keep its promise that The Strand will not cost Sefton Council Tax payers a dime if these losses continue.
The Strand was purchased using a loan from the federal government, with the expectation that the shopping center’s profits would be used to repay the loan. However, for at least the next few years, that money will have to come from somewhere else, which is certain to anger Conservative councillors who have frequently questioned the grounds for purchasing The Strand.
The council also hopes that its plans to build a canalside market next to The Strand and renovate the shopping centre would attract more customers and reduce future losses.
Given the deterioration of the retail sector even before Covid, the business plan approved last month implies that The Strand will shift away from being solely a shopping centre.
It proposes repurposing the Strand with a “open plan design” and a “reduced retail footprint,” making it “a desirable site for residential, education, and business applications by bringing a variety of new offers such as leisure, culture, restaurants, and health.”
“The summary comes to an end.”