THE leader of the council has confirmed that the leasehold to Festival Place will be sold, and the shopping centre revitalised "before Christmas."

A previously reported, the leasehold for Basingstoke's flagship shopping centre, Festival Place, has been put up for sale by estate agents Savills, providing an investment opportunity for potential buyers.

Now, the leader of Basingstoke and Deane Borough Council, Cllr Paul Harvey, has confirmed that this sale is expected to be completed in time for Christmas.

Speaking at a corporate event, held in the Post Box Sports Bar at the Top of Town on Thursday, November 8, Cllr Harvey explained how BDBC's £75,000 Town and Village Centre Fund has been helping to support independent high street businesses, in particular, those at the Top of Town.

READ MORE: Festival Place leasehold put up for sale with 'strong demand' for Debenhams unit

Leader of Basingstoke and Deane Borough Council, Cllr Paul HarveyLeader of Basingstoke and Deane Borough Council, Cllr Paul Harvey (Image: Basingstoke and Deane Borough Council)

He explained that not only will the Top of Town see a difference, but so will Festival Place and The Malls, saying: "We are serious about this, and what sort of difference is it making? Think about what you have had recently announced in the town - Festival Place will be sold and will be revitalised with a new lease of life before Christmas."

He added that the council approached Festival Place to ask how it can help, and explained that the council "relaxed" the leases in order to make it easier for businesses to set up shop.

He said: "They are serious about getting on with refilling it, we've relaxed the leases, we've gone out there and said 'how the hell can we get this place going - what do we need to do with you as partners to achieve in the end?'"

As well as this, he promised that The Malls will soon be thriving with vacant units soon to be filled.

He said: "The Malls will be full again, Wilkos, all they've gone through, will be full again.

"Basingstoke, in terms of footfall, is outstripping Reading, Southampton and Portsmouth. Our town centre is successful and we need to sing its praises.

"The big boys are floating, those big investors that led to Festival Place being built in the first place are back in town, wanting to invest in Basingstoke because of what you guys have proven can be done."