Council proposing £230,000 loan to buy empty premises
PUBLISHED: 12:15 16 December 2019 | UPDATED: 12:15 16 December 2019
An empty premises in Great Yarmouth could be converted into a tourist information centre with a £230,000 loan from the council.
Town Hall is proposing lending the money to Great Yarmouth Preservation Trust (GYPT), to purchase a vacant building on King Street in the town centre.
A report to the council, which meets on Thursday (December 19) states the building has the "potential to assist in linking the town centre and market place together through a creative reuse, thus supporting the long term regeneration of the town".
It also says that GYPT is willing to purchase the property, subject to a loan from the council, to undertake scheme design and repair.
Revenue generated from the new use will repay the loan and keep the building maintained into the future.
GYPT currently has three separate loans from the council.
They were used to purchase 133,135 and 33 King Street.