Bolton Council's cabinet and other councillors clashed on the sale of a site in the town centre for a total of £4.

Church Wharf's sale was approved by the cabinet this week after an attempt to call it in for additional scrutiny.

On Monday (July 22), at the town hall, leader Nick Peel, deputy leader Akhtar Zaman and cabinet members said the sale of the site in the town centre was a significant step in the development of more than 400 homes and a hotel by the developer Watson Homes.

They said the council is at risk of returning around £1.4 million of Brownfield Fund funding to the combined authority and of not receiving another £5.2 million of Brownfield Fund funding from the combined authority unless there is work on Church Wharf "urgently".

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Cllr Peel said: "I think there is some misunderstanding in terms of what is in this for us but what is in this for us is the regeneration of the town centre.

"If we do not make these decisions there will not be any regeneration of the town centre and we will give the Brownfield Fund back to the GMCA."

David Grant, leader of Horwich and Blackrod First, attempted to call in the approval to the next arranged Place Scrutiny Committee on August 20.

He withdrew the call-in of the approval when he was told there is a newly arranged Place Scrutiny Committee within days and while he is on holiday.

(Image: JM Architects)

Cllr Grant said: "We cannot give away our assets for zero whilst pleading poverty: 'We have had cuts for 14 years so let us give away this site for free'. 

"If you tell me Watson Homes are not going to make tens of millions of pounds off this site I will eat my hat."

Conservative Group councillors asked why the council is not giving the developer a long-term lease instead of giving the developer the land.

Paul Whittingham, the Assistant Director of Place, told them the advice of their advisors CBRE and KPMG was to go about it in this way.

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Mr Whittingham said: "This is a way of getting investment in Bolton when many, many other areas are not getting investment. 

"These are our advisors who do this on a national basis and an international basis and their advice is to stick to this structure."

The total of £4 is £1 per phase for a project for which an application for planning permission is anticipated this year. Phase One and Phase Two include almost all the homes while Phase Three and Phase Four include the hotel and other uses.

The council is able to buy back the land for the same sum if a phase is not started, or to buy back the land for the sum of work to date if a phase is started but not seen through, in what Mr Whittingham said was the  "Doomsday Scenario".

This article was written by Jack Tooth. To contact him, email jack.tooth@newsquest.co.uk or follow @JTRTooth on Twitter.