Plans for North Herts Council to give up its lease on Letchworth Garden Square multi-storey car park have been signed off by the authority's cabinet.

At a meeting yesterday (Tuesday, April 14), councillors agreed to surrender the lease to developer Martin Group, who are planning to redevelop the shopping centre.

Ahead of the redevelopment, which will include new homes, Martin Group asked the council to give up their lease early, before its 2037 expiry.

Tamsin Thomas (Lab, Letchworth South East), cabinet member for enterprise, said that the authority would save around £3.4 million in capital costs from giving up the lease, and lose an expected £430,000 in income.

She added that Martin Group are planning to improve the car park through longer opening hours, automatic number plate recognition, and new security measures.

Part of the car park is expected to be used for future residents of the redeveloped centre.

According to a council report, Martin Group suggested that, under their ownership, 100 spaces would be available for the council, 150 for residents, and 150 for shoppers.

Negotiations with Martin Group showed that they "recognise the need to ensure [tariffs] are competitive with other local car parks", and would continue to allow up to 100 spaces to be used as free parking council staff until April 2028. Staff would then be able to receive a 20% discount on parking until 2030.

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Ian Albert (Lab, Hitchin Bearton), cabinet member for resources, said the surrender of the lease was "clearly the right thing to do" financially, while Letchworth Norton councillor Daniel Allen (Lab) said it would be "really good for Letchworth and … really good for us and our taxpayers".