News
The New Swindon Company unveils sweeping plans for the £1 billion regeneration of Swindon's town centre at a Westminster briefing today in an early bid to attract private investment to support and expand the projects identified.
Cited as "one of the most significant regeneration projects in South West England", Swindon's Regeneration Framework is set to deliver almost 400,000 sq m of total development on 50 hectares of land - this will include approximately 3,000 new homes, 90,000 sq m of office space, 100,000 sq m of retail and leisure and 10,000 new jobs. In terms of new retail provision alone, it is estimated that retail spend could stand at some £900m per annum by 2016.
One of a small number of Government-appointed URCs, The New Swindon Company was established in 2002 and is funded by English Partnerships, the South West of England Regional Development Agency and Swindon Borough Council. Over the past 18 months, extensive community consultation, economic research and viability analyses have been undertaken to explore the various options needed to regenerate the town and build upon its existing regional and national strengths.
"It has taken some time to get to this stage," states Peter Andrews, Chief Executive of The New Swindon Company. "But our extensive research and consultation means we are highly confident that our proposals, whilst aspirational for the town, are both achievable and economically viable. We are now ready to take action, to start seeing the various elements take shape and to encourage outside investors to get involved early, whilst still working closely with the community to ensure their views and opinions sit at the heart of the regeneration process. This is certainly an exciting time."
John Cullum, Chairman adds: "Swindon is set to be transformed over the next 10 years with the people of Swindon and its economy being two of the biggest winners. There are considerable opportunities for investors and the level of interest already expressed has been extremely encouraging. The vision for the town centre of Swindon represents one of the most significant regeneration projects in the South West of England."
The proposals - featuring seven major project areas that combine to expand the residential, office space, retail, cultural, educational and leisure facilities within the town centre - were first unveiled to the local community in July this year and received much support.
Peter Andrews concludes: "There have been many grand plans for Swindon - and lots of discussion. The New Swindon Company is focused on delivery. The publication of the Regeneration Framework very clearly shows that Swindon is open for business and is moving forward in the revitalisation of the town."
Thursday 23rd September 2004