Archived press release

Date Published: 11/07/07

A major step forward has been taken towards delivering the exciting Waterside project for Aylesbury town centre. At a meeting of the full council on 10 July, Aylesbury Vale District Council members agreed to enter into a Development Agreement wit...

A major step forward has been taken towards delivering the exciting Waterside project for Aylesbury town centre.

At a meeting of the full council on 10 July, Aylesbury Vale District Council members agreed to enter into a Development Agreement with Warner Estate Holdings PLC (“Warner Estate”) for the retail element of the regeneration initiative for Aylesbury town centre.

Once signed, the Development Agreement will provide a comprehensive legal and financial framework, under which Warner Estate, in partnership with AVDC, will deliver the multi million pound scheme, which is to be known as Waterside Shopping.

Overall, Waterside Shopping will create a 260,000sq ft retail scheme with over 35 new shops and a department store. Warner Estate is currently undertaking public consultation ahead of submitting a planning application later this summer. Warner Estate has met with a number of stakeholder groups and is holding a public exhibition in the Hale Leys Shopping Centre from Thursday 26 to Saturday 28 July.

Waterside Shopping will be fully integrated with Warner Estate’s Hale Leys Shopping Centre and will enhance the existing townscape by providing a link between the High Street, Market Square and the new theatre, which is currently being built on the southern side of Exchange Street.

The Waterside regeneration scheme, which also includes the new theatre on Exchange Street and the redevelopment of the canal basin for housing and recreation, forms part of the plans to meet the expectations of the local population, which will grow significantly in the coming years.

Waterside Shopping will help to deliver the long-term retail growth, with associated job opportunities and economic benefits, needed to support the expanding district.

Councillor John Cartwright, Leader of Aylesbury Vale District Council, said: “The council’s support of a formal development partnership with Warner Estate is a significant step towards delivering our vision for Aylesbury in line with the government’s growth agenda. Retail is an essential element of the Waterside project and is in line with our plans to transform Aylesbury Vale into one of the region’s most vibrant places to live, work and shop.”

Michael Stevens, Property Director at Warner Estate, comments: “We are delighted that AVDC has confirmed its support of our proposals for Waterside Shopping. We will be providing modern retail units suitable for major high street fashion retailers and introducing new restaurants and cafes, which we very much believe will be a boost to both the shopping offer within the town and the local economy.”