TONIGHT Stroud District Council voted unanimously in favour of making a £2million loan to a company hoping to rejuvenate a shopping centre in Stroud town centre.

All the councillors in the Ebley Mill council chamber agreed to plans outlined to make a loan to a subsidiary company 'Stroud Regeneration Ltd’ set up by Dransfield Properties Ltd for the purpose of the project.

Prior to the vote members stood in turn to commit their support for the plans.

Cllr Doina Cornell (Labour, Dursley) said that the redevelopment would "not only good be good for the town, but the district as a whole".

The loan is the final piece financial backing required by the Sheffield company for the planned £10million refurbishment of the shopping centre.

Earlier today Gfirst LEP announced that they would also be backing the development to the tune of £3million.

Managing director of Dransfield Properties, Mark Dransfield, said: “Our company has worked in market towns to deliver successful and sustainable developments for more than 25 years.

"We are looking forward to having the opportunity to work with GFirst LEP, the local authority and other stakeholders on a major transformation of the Merrywalks Centre in Stroud.  

"Our plans are at an early stage but we are excited at the prospect of working together in this beautiful market town to create a well linked and attractive centre and bring a new retail offer to the town," he concluded.

This article will be updated with responses to the decision tomorrow.