Millions of taxpayers’ pounds committed to building The Deck have stayed “firmly in the council’s accounts” it has been confirmed.

But Bracknell Forest Council did spend £30,000 on unsuccessful bids for government grants to support the scheme.

The empty space between High Street and Princess Square would have hosted restaurants, bars and shops, in the next major phase of Bracknell’s regeneration.

But developers announced this week that the plans had been scrapped in favour of a “major rethink,” claiming that rising construction costs made the scheme unviable.

READ MORE: The Deck - a timeline from start to finish

Bracknell Forest Council had supported the plans – and had agreed to contribute £6 million of its own money to construction. But this money would only have been paid if the site was developed as agreed – meaning the council has not had to pay out.

Andrew Hunter, the council’s executive director for place, planning and regeneration, said: “It is usual for the council to earmark one-off funds for specific large-scale projects. This money then sits ringfenced in the council’s accounts until we are at a point to pay for what we have agreed.

“In the case of The Deck, we earmarked around £6m to support the regeneration of this key site. As the site is not being developed as previously agreed, that commitment has fallen away and the money stays firmly in the council’s accounts.”

The council did spend £30,000 on preparing bids for government grants to help fund the scheme, as rising construction costs and the Covid-19 pandemic had delayed work.

These bids were for money from the government’s Levelling Up Fund – a scheme aimed at sending money to deprived areas of the country. The bids were ultimately unsuccessful, with Bracknell Forest among those areas deemed to have the least priority.

READ MORE: What do residents want to replace The Deck?

Mr Hunter said: “The council has always been keen to get The Deck completed as we recognise it is a major part of the regeneration of the town centre.

“We submitted two levelling up bids for £5m in 2021 and £8.8m in 2022. The second bid would not have only supported The Deck, but would also have seen Bracknell Library relocated and reimagined – together providing a much wider cultural offering in the town centre.

“Unfortunately, both bids were unsuccessful. The cost of putting in the bids was around £30,000 in total, and was similar to the costs experienced by all councils that bid for these funds.”

Bracknell Forest Council also secured some £955,000 via the Thames Valley Local Enterprise Partnership towards demolishing the Bentalls building that previously occupied the site.

This was agreed by The Local Transport Body in November 2020, despite concerns raised by councillors from other Berkshire councils. The money came a government Department for Transport fund.