Milton Keynes Council has agreed the freehold transfer of Wolverton Market Square to Wolverton and Greenleys Town Council for £1.
The handover will enable Wolverton and Greenleys Town Council to provide “improved leisure and community activities” going forward, according to documents.
Also included in the transfer is access to the war memorial.
Wolverton and Greenleys Town Council has been managing the square’s landscaping for some time and every year is in charge of the Christmas tree and decorations in the square.
Now, the ownership will allow the local town council to “further develop the community of historic Wolverton” and to “enhance the social, economic and environmental well-being of the area”.
Milton Keynes Council can transfer the land for £1 under powers that recognise the local benefit of a disposal, up to £2 million.
“The freehold transfer of the town square to the parish council will take place at the notional value of £1,” reads a council document.
“The council is able to transfer the land at less than best value through the use of well-being powers contained in the General Disposal Consent 2003, which allows for such a disposal where it benefits the economic, social or environmental well-being where the undervalue is up to a maximum of £2 million.”
It all comes as Wolverton undergoes a total regeneration programme, including the demolition of the Agora Centre which will begin next month.
