News
Swindon town centres one billion-pound regeneration plans have reached a significant milestone with the final land purchase secured for The Exchange and Arena projects.
The New Swindon Company (TNSC), in partnership with the South West of England Regional Development Agency (South West RDA), has negotiated the purchase of Davis House in a deal costing £2.4 million. The agreement was carried out on behalf of Swindon Borough Council and was fully funded by the South West RDA.
Davis House is based on Carfax Street and was previously owned by the Salvation Army. The provision of facilities for the homeless in Swindon will continue to be provided by the organisation, who will move to new accommodation in Princes House, Princes Street when the building is completed later this summer.
Steve Richards, head of operations for the South West RDA, Said: Swindon remains the most productive town in the south west and will continue to expand, creating new homes and jobs. The South West RDA is committed to supporting this growth and developing a town centre that will meet the needs of a growing population. The Exchange project will play a key role in revitalising the retail, residential and leisure opportunities in the town.
Chris Hitchings, development director of TNSC, added: Securing Davis House brings to a close the land assembly for this project area. The approach we have taken to managing the process will prove beneficial to AMEC, the preferred developer, by enabling them to get to the construction phase of the project much quicker. It has taken us a few years to get to the position where our public sector partners own all of the 17 acres. Our main aim has been to get cranes on the horizon as quickly as possible and give the regeneration a much needed boost.
The Exchange and Arena area is set to become one of the largest town centre developments in the south west. It will feature 55,000 square metres of office space, 40,000 square metres of leisure facilities, a 200-bed hotel and 450 new homes.
Leader of the Council, Roderick Bluh said, This is an exciting scheme and I am delighted with the completion of this acquisition enabling the development of the Exchange to be one step closer.
Thursday 19th April 2007