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Development partner unveiled for new shopping area

Archived press release

Date Published: 01/03/06

Aylesbury Vale District Council has announced its main development partner for a new shopping area in Aylesbury town centre. The council has entered into a collaboration agreement with Warner Estate Holdings PLC, owner of the Hale Leys Shopping C...

Aylesbury Vale District Council has announced its main development partner for a new shopping area in Aylesbury town centre.

The council has entered into a collaboration agreement with Warner Estate Holdings PLC, owner of the Hale Leys Shopping Centre, covering the multi-million pound retail element of the Waterside redevelopment scheme.

The move marks an important milestone for the Waterside project which AVDC and partner organisations have been working towards.

The retail development proposal comprises 265,000 square feet of new retail accommodation on the northern side of Exchange Street, including a major department and food store, modern retail units and a selection of restaurants and cafes, which will be fully integrated with the existing Hale Leys Shopping Centre.

Councillor John Cartwright, Leader of the Council, said the scheme will benefit local residents and businesses. He said: “This news represents another major step forward for the Waterside project. This development will really take Aylesbury forward, providing better facilities for local people and attracting shoppers into the town from further afield. We will now be working with Warner Estate to produce detailed plans for the scheme and we shall keep residents fully informed of our progress.”

Property investment company Warner Estate will lead the retail project with development partner Bride Hall Developments Ltd. A preferred architect for the scheme will be announced shortly.

The retail development is expected to begin in autumn 2007, with public consultation likely to take place later this year.

The collaboration agreement with Warner Estate is the latest in a number of exciting developments affecting the Waterside scheme recently. RHWL Architects have been appointed by the council to work up detailed designs for the new theatre and entertainment centre, whilst work will soon start onsite with the Walton Street development, where developer Crest Nicholson will be building new homes and a multi-storey car park.

Michael Stevens, Property Director at Warner Estate, said: “We are delighted to confirm our involvement in this joint project which will greatly enhance Aylesbury town centre.

“Our proposed investment in the retail element of Waterside of close to £100million is intended to complement the existing market town through high quality design, improving and raising Aylesbury’s profile as an exciting destination for shoppers. We will be providing modern retail units suitable for the major high street fashion retailers and introducing new restaurants and cafes. We expect our new investment will create many new job opportunities in the very heart of the town.”

Contact information

Telephone:

01296 585099

Email:

communications@aylesburyvaledc.gov.uk