COUNCIL leader Cllr Russ Bowden says he is not worried about the prospect of coronavirus making it harder to fill empty units at Time Square.

It comes as advanced discussions take place with potential operators who are interested in taking up space at the Labour-run authority’s flagship £142.5 million town centre regeneration scheme.

It is already home to Cineworld and The Botanist but there are fears over whether the pandemic crisis will make it more difficult to fill the units.

But Cllr Bowden says he has no concerns about the issue and highlighted his confidence over businesses in the area soon getting back to some form of normality, with social distancing in place.

He also confirmed the council is in ‘fairly advanced’ discussions over some empty units at Time Square.

“Obviously, the hospitality sector was hit first, it’s probably going to be one of the last things that gets unwound,” he said.

“The Government has put grant schemes in place and hopefully businesses can survive over this period.

“And you would think after the country has been in lockdown, there are going to be a lot of people who will want to support their local economy but also to go out and start enjoying their leisure time.

“I don’t have any concerns but obviously the (Time Square) timetable is slightly different now because we have lost a bit of time.”

The council continues to call on the Government to reimburse it fully for coronavirus costs as it faces a funding shortfall of almost £40 million.

Of the Government’s emergency £3.2 billion for local authorities, Warrington has been allocated around £11 million.

However, it expects its costs and loss of income due to Covid-19 to total around £50 million.

Earlier this month, amid the funding fears while defending the Government, Warrington South Tory MP Andy Carter said he is concerned about the impact on the council’s services because of its ‘risky’ investments, which he believes could end up costing taxpayers ‘heavily’.

Cllr Bowden says he believes the comments were ‘ill-informed and ill-judged’.

He also confirmed the council’s commercial property portfolio currently generates an income of more than £20 million a year.

Furthermore, Cllr Bowden highlighted each investment is backed with a proper risk assessment and third-party due diligence, including over any potential loss of income because of a ‘disaster situation’.

“None of the investments are on such a tightrope that they are going to be scuppered by the current situation,” he said.

“This is nothing new, the council has been making investments for the last seven or eight years and they have been absolutely vital in terms of income for the council.

“Without these investments, we would have £20 million less a year to spend on services.”

Meanwhile, Cllr Bowden highlighted the authority’s assets are worth more than the level of debt.

And he said the impact on income from the investments due to Covid-19 has not been significant and ‘for the most part’ has not been affected.

“Birchwood Park continues to perform well and we have investments in distribution and in supermarkets which are obviously doing very well at the moment, in terms of where the national economy is at,” he added.

“If the Government says there is no more money, unless the councils have significant cash reserves there will be whole heap of councils who will need to issue a Section 114 notice.

“That is not a conversation we are having in Warrington but, obviously, we are going to keep pressure on the Government to do what they said they would do.

“Councils acted in good faith believing the money would follow but, unfortunately, the Government seems to be changing the message.”