Strutt & Parker - Mixed-Use Development - West Berkshire, Newbury Town Centre

Date: 17 Aug 2004

West Berkshire Council, advised by Strutt & Parker, has shortlisted three prospective development partners to undertake a major retail-led, mixed use development in Newbury town centre:

- London & Amsterdam Developments Limited (a wholly owned subsidiary of ING Real Estate Development UK Limited).

- Standard Life Investments and Shearer Property Group.

- Slough Estates plc

The 2.3 hectare (5.7 acre) Park Way site in the town centre has been allocated by West Berkshire Council for a development of around 25,000 sq m (270,000 sq ft) of new retail space, including a new department store and smaller retail units, plus residential accommodation and car parking.

The development is part of a wider regeneration strategy for the town in line with its Newbury 2025 strategy. A key part of the brief is that the scheme should create strong links to the rest of the town and provide high quality buildings to complement the historic town centre.

The Council initially received 14 bids as part of the Stage One - Expression of Interest. Now, in accordance with Stage Two - Development Brief, the shortlisted parties have been invited to submit detailed architectural and financial proposals by the end of October 2004. A final decision on the preferred developer is expected in December this year.

Nick Carter, Corporate Director (Strategy & Commissioning) of West Berkshire Council said:
"There is considerable demand for retail space in Newbury town centre, and the regeneration of the Park Way site will not only provide for a number of prime units and department store but it will also be a major catalyst for future development in the town."

"As well as bringing new facilities to Newbury, a very important part of the brief has been for the proposals to create strong links to the rest of the town and provide high quality buildings that fit in with our historic town centre."

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