MALVERN Town Council would have to pay £1.7million to replace the walls of Rose Bank Gardens if they collapsed due to being massively under-insured, a report has revealed.
After a small wall had to be replaced following heavy rainfall in January, the council moved to obtain a valuation for the reinstatement costs for the larger walls running alongside Wells Road and Foley Terrace.
A report set to be tabled before the Policy and Resources committee tonight (Wednesday, June 11) reveals the costs would be £810,000 and £985,000 respectively.
But when the council agreed the 99 year lease from Malvern Hills District Council insurance was taken out which only covers the Wells Road wall to the value of £15,287 and the one on Foley Terrace for £50,956.
The council currently pays £136.08 a year to insure both but officers have recommended they increase the spend to £1,581.11 which would cover the large reinstatement costs.
Mayor Julian Roskams said: “It is essential to ensure that the council has adequate cover in place and I am glad the new town clerk has taken the initiative to make sure that this is the case.”
