Good point. It was £297,000 last year and would likely be significantly less if brought up to standard. But it would still be more costly than a modern purpose built building.
Have you answered your own question? He wanted to buy it for £1 and spend just £2M on refurbishment with no commitment as to future use.
And for that he wasnt the right choice.
That still does not mean that a redevelopment of the whole bus station would not have brought benefits to not only the station but the surrounding area.
Would you like me to point out some terrible areas that have benefited from regeneration? Using the same buildings?
Preston council have made the wrong decision.