News

Regent Circus Acquisitions for The New Swindon Company

Preparation for the Town Centre regeneration continues to move forward with the purchase of 10 15 Regent Place.

The New Swindon Company (TNSC), in partnership with the South West of England Regional Development Agency (South West RDA), have negotiated the purchase of the building through Swindon Borough Council in a deal costing more than £1.8 million. The agreement has been fully funded by the South West RDA.

The vendors were the Bristol & West plc and the building is currently occupied by the Northern Rock, Britannia Building Society and a number of local companies. The intention is that in due course it will form a strategic link from Islington Street up the hill into Regent Circus as part of The Promenade project area. In the short term the current tenants will remain and new tenants will be sought for the vacant premises.

As part of the Regeneration Framework, TNSC has plans to turn the area from the courts up to and including Regent Circus into the cultural heart of the town centre. The Promenade SPD (supplementary planning document) was adopted into the local area plan last year and provision will be made for a new cultural complex which could include a theatre, exhibition space, as well as a mix of cafes, restaurants, offices, residential and shops, an art gallery and museum plus the new library currently under construction.

Chris Hitchings, Director of Development for TNSC commented, When the opportunity came up for the purchase of 10 15 Regent Circus it was realised that this would give us the land ownership we were seeking to enable ourselves and our partners to fulfil our plans for The Promenade. The assistance that SWRDA has provided in the purchase continues to show that they are fully committed to Swindon and the regeneration.

Steve Richards, Head of Operations for the South West RDA, added: The Agency is in a unique position to act as a catalyst for regeneration in Swindon and the wider region. This latest acquisition starts the next stage of the towns redevelopment and will provide further opportunities to meet the communitys needs, enable businesses to flourish and attract further investment in Swindon.

Tuesday 27th March 2007