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Council agree to slash £2.4m off land price in ASDA deal

At last night’s Isle of Wight council Executive meeting, members voted on recommendations to vary the terms of the Lease with ASDA.

As reported last week, the supermarket chain, owned by American leviathan Walmart, had demanded changes to the Lease before agreeing to purchase the land next to Newport FC’s ground on St George’s Way.

ASDA wanted to knock £2.4m off the price of the Lease, as well as vary parking restrictions and delivery times. The discussion was held in private, but following the meeting, the council tweeted the outcome.

Full details in the paper below. Click on the full screen icon to see larger version.


Image: Images Money under CC BY 2.0

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