Council to Pay Tesco $10M to Exit Car Park Lease | Nottingham News

Mansfield District Council and Tesco have struck a deal to end a decades-long lease on the collapsed Walkden Street car park, with the council paying over ten million dollars to buy out the agreement — a move that frees them from future liabilities and settles a legal battle sparked by the structure’s 2025 collapse. Originally signed in 1975, the 99-year lease now leaves 48 years remaining, and while the payout is less than what the council would’ve paid by the end of the term, they’ll need to borrow an additional seven and a half million to cover it. The council’s previously set aside two and a half million for repairs — which never materialized before the collapse — will help fund the settlement, plus another half million for demolition. Additional costs include security, expert fees, and this year’s rent. The proposed deal, set to be presented to the full council June 30 by Mayor Andy Abrahams, marks the end of a long, costly saga. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b67936b26b10f5c8