TOWN Hall chiefs say part of a council report stating the cost of Time Square has increased to £150 million is incorrect.

The construction of the Labour-run council’s flagship regeneration scheme is complete.

It comprises sites including Cineworld, The Botanist, a new market, council offices and a public square.

The scheme has been highlighted in a report for today’s cabinet meeting, where it labels it as a £150 million investment.

This would have presented a £7.5 million increase on the last estimate.

The report said: “The council’s level of debt is also reflective of the considerable amount of economic regeneration that taken place in the borough over recent years and is a major factor contributing to the high GVA (gross value added) of Warrington.

“The £150 million investment in Time Square is an example of that.

“Again this is a valuable asset which could be sold, leased, etc if the council chose to do so.”

However, the council has said the cost has definitely not increased.

It put the £150 million cost in the report down to a mistake or the sum being rounded up by an officer.

Meanwhile, it added that it remains very confident of securing operators for all of the Time Square units and expects to be in a position to make further announcements in the ‘near future’.