The credit crunch is without doubt having some kind of effect on regeneration projects throughout the country. It is more difficult to obtain funding. However, with the Union Square development being such a long-term project, current dips in the market should not have too great a bearing on the project moving forward. Obviously there have been delays with the Development Agreement and everyone is frustrated, however this is the nature of this type of work and we have to keep positive and maintain the momentum. I do think we are now at the last furlong with some minor design work being agreed, so all being well, the agreement will receive the approval of our three partners respective Boards/Cabinets and can then be formally signed sometime in June. Everyone's patience is appreciated.
With regards to Regent Place, the legal side of the Development Agreement has virtually been agreed and there are only a few issues to be ironed out between Modus and Swindon Borough Council. Once the document is signed the CPO can be confirmed and the acquisition route can commence.
Many thanks to all for the support on the Wharf Green/Big Screen launch.
Posted on Friday 9th May 2008
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