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Councillor Townsend asked: Could the cabinet member confirm that the Council monitors the level of private sector investment in the city centre? With the former Admiral building and Sorting office, both vacant and with Friars Walk continuing to receive significant support from taxpayers, is the cabinet member content with the level of private investment? Councillor Clarke responded: Yes, private sector investment in the city centre is monitored and Officers, the Leader and myself have ongoing and regular meetings with key investors including the operators of Friar’s Walk and the owners of the Indoor Market and Kingsway. We have seen significant investment in the Kingsway Shopping Centre with the opening of The Underground, Little Kingdom and a number of new shops which has seen vacancy levels in the Kingsway decrease in the last 12 months from 12% to less than 1%. Throughout 2025 we also saw vacancy levels across the city centre decrease from 19.88% in February 2025 to 16.86% by September. The number and percentage of independent businesses have also increased to over 68%. As Cabinet Member, I frequently liaise with a range of businesses across the city, and with the support of officers meet with potential investors on a regular basis.
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