Croydon Council is considering spending more than £15 million buying a town centre car park.

Reports reveal Croydon Council is in negotiation with company Retail Parking Solutions to buy Fairfield Car Park for up to £15.92 million, just six years after the site was sold for a fraction of the cost.

In 2005 the Labour led council sold four town centre car parks, including the Fairfield Road site, for a total figure believed to be around £13 million.

Speaking at a full council meeting on Monday, October 17, Councillor Tony Newman, leader of the Labour Party, attacked the plan.

He said: “It this the best use of tax payers money at this point in time? Your priorities are to go ahead with this plan at a time when staff are being made redundant.”

Coun Newman also questioned whether the site, once owned by Croydon Council, would be offered to developers John Laing as part of the Croydon Council Urban Regeneration Vehicle (CCURV) agreement.

He said: “Can you confirm that if you go ahead with this plan, 50 per cent of any subsequent development profits will have to go to John Laing?”

Leader of the council Councillor Mike Fisher would not confirm the council would buy the 1371 space car park.

He said: “I find it extraordinary Coun Tony Newman criticising this as he was the one responsible for selling the car parks in the first place, possibly the worst deal the council ever signed. The truth of the matter is I am not going to enter into any discussions at this time.”

He also attacked Coun Newman for allowing car park operators NCP to increase parking costs at the site without any checks by not including a clause in the contract giving the council any control.

An official spokesman said: “We do not comment on commercial negotiations while they are in progress but we will make a full statement if we do acquire the site.”