Councillor Shazna Muzammil-Cook, Leader of Conservative Group in Milton Keynes, has criticised the latest update on the long-promised regeneration of Wolverton’s Agora site, after new cabinet papers confirmed millions have already been spent with construction still yet to begin.
In 2021, Milton Keynes City Council purchased the Agora site and allocated £36.6 million of taxpayers’ money to deliver the regeneration, after the previous developer said the scheme was no longer financially viable. The Council stepped in as developer, taking on the risks and costs directly. Demolition was completed in February 2023, and construction was originally expected to begin in 2024.
Papers going to Cabinet this week confirm that since 2021, Milton Keynes City Council has already invested around £10 million of taxpayers’ money into the regeneration of the former Agora Shopping Centre site. These costs are now described as “sunk”, meaning the money has been spent and cannot be recovered, even though construction has still not begun.
Councillor Muzammil raises that it is also worrying that the latest report suggests the scheme may require further borrowing, creating additional pressure on council finances at a time when households across Milton Keynes are already tightening their belts.
She also notes that the council now proposes, due to viability issues, thar there will no longer be any affordable housing included within the scheme. The planned co-housing block for over-50s is also now not possible after funding fell through.
Cllr Shazna Muzammil-Cook said:
“All of this didn’t happen by accident. The Labour Council decided to take on this significant responsibility and risk. They chose to spend millions of our residents' tax money. And they chose the way this project is being managed.
Residents were promised regeneration, new homes and investment for Wolverton. Four years on there is a big pile of rubble, smack in the middle of historic Wolverton. Not a brick has gone up, and residents are left picking up the bill. This is not what regeneration looks like. This is what poor management and poor delivery look like.
Spending £10 million and still ending up with an empty site isn’t just disappointing — it’s incompetence.
The Council keeps blaming “external factors”, but when a site sits empty for years, investors lose confidence, residents lose confidence, and the whole area suffers.
Why would anyone want to invest in a place where the council can’t deliver projects on time or on budget? Wolverton deserves better than this shambolic Labour administration”
More information on the future of the Agora Regeneration project is expected to be shared in March.
