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£215 million Swindon regeneration agreement signed with Modus Properties
The regeneration of Swindon town centre has taken a step forward with the signing of a development agreement which will bring more than £200 million pounds of private and public sector investment into the town centre, and deliver one of the largest projects of its kind in the South West.
Modus Properties has committed to deliver Regent Place, a £215 million scheme, comprising 32,500 sq m of high quality retail, residential, leisure and car park spaces by 2012.
A further development agreement is on track to be signed by Muse Developments in the very near future.
Coun Phil Young, Swindon Borough Council cabinet member for economic development and regeneration, said: "Given the current gloomy economy, the signing of this agreement really puts Swindon step ahead of many other regeneration schemes in the UK.
Neal Dale from Modus added: "Regent Place will make a huge difference to Swindon town centre, providing the type of retail and leisure facilities that will bring in visitors from miles around.
Swindon has been crying out for redevelopment for some time and we are extremely proud to be a part of it."
Peter James, chief executive of The New Swindon Company, said: "Considering the economic conditions currently facing the UK we are delighted to be able to announce the completion of the development agreement with Modus and the Muse Agreement which will be completed quite soon.
Swindon is bucking the national trend - the town has absolutely massive potential and these developments, which are a major investment into Swindon's future, will go a long way to realising it.
They will provide the quality of design and new facilities that the town deserves, benefiting those who live, work and spend time here.'' The £215 million development of Regent Place is a 32,500 sq m retail-led mixed use scheme situated on the Granville Street car park site and is set to create the ultimate new shopping experience in Swindon.
A 10,000 sq m, three level Debenhams store, will anchor the development in addition to a further 45 retail units and a selection of restaurants and cafes.
There will also be approximately 170 residential apartments, and a new 750 space car park.
The development will branch off Regent Street and link into the first floor of the Brunel Shopping Centre with generous 24 hour access public spaces.
There will also be enhancements to The Parade, Canal Walk, Regent Street, Bridge Street and Wharf Green with improvements to paving, planting, street furniture and lighting.
There will be improvements to existing shopper parking facilities and the provision of a new multi-storey facility to replace the surface car park.
The scheme forms part of the regeneration area called The Hub, which aims to cater for the projected increase in retail expenditure in the town centre, which is expected to grow to around £900 million by 2016.
Modus Properties has committed to deliver Regent Place, a £215 million scheme, comprising 32,500 sq m of high quality retail, residential, leisure and car park spaces by 2012.
A further development agreement is on track to be signed by Muse Developments in the very near future.
Coun Phil Young, Swindon Borough Council cabinet member for economic development and regeneration, said: "Given the current gloomy economy, the signing of this agreement really puts Swindon step ahead of many other regeneration schemes in the UK.
Neal Dale from Modus added: "Regent Place will make a huge difference to Swindon town centre, providing the type of retail and leisure facilities that will bring in visitors from miles around.
Swindon has been crying out for redevelopment for some time and we are extremely proud to be a part of it."
Peter James, chief executive of The New Swindon Company, said: "Considering the economic conditions currently facing the UK we are delighted to be able to announce the completion of the development agreement with Modus and the Muse Agreement which will be completed quite soon.
Swindon is bucking the national trend - the town has absolutely massive potential and these developments, which are a major investment into Swindon's future, will go a long way to realising it.
They will provide the quality of design and new facilities that the town deserves, benefiting those who live, work and spend time here.'' The £215 million development of Regent Place is a 32,500 sq m retail-led mixed use scheme situated on the Granville Street car park site and is set to create the ultimate new shopping experience in Swindon.
A 10,000 sq m, three level Debenhams store, will anchor the development in addition to a further 45 retail units and a selection of restaurants and cafes.
There will also be approximately 170 residential apartments, and a new 750 space car park.
The development will branch off Regent Street and link into the first floor of the Brunel Shopping Centre with generous 24 hour access public spaces.
There will also be enhancements to The Parade, Canal Walk, Regent Street, Bridge Street and Wharf Green with improvements to paving, planting, street furniture and lighting.
There will be improvements to existing shopper parking facilities and the provision of a new multi-storey facility to replace the surface car park.
The scheme forms part of the regeneration area called The Hub, which aims to cater for the projected increase in retail expenditure in the town centre, which is expected to grow to around £900 million by 2016.
Wed, 3rd Sep 2008