The ambitious £49m redevelopment of Plymouth’s crumbling Civic Centre may turn out to be loss making. Minutes of “secret” meetings held to discuss the future of the city centre show that the revamp may not break even.

A meeting held between Plymouth City Council officers, the Homes England quango, and other Government departments said a case for funding might have to focus on the “social value” of the project as it may not turn a profit.

Homes England has now injected £20m into the revamp , with the council borrowing £17.366m to put towards it and the rest coming from other funders, as it looks to create 144 flats above a college campus on the lowest three floors.

PlymouthLive has now seen full minutes of three meetings of the Plymouth Strategic Investment and Regeneration Board aft

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