Work started in January 2017 on this exciting mixed-use scheme on part of the Exchange Street car park.
Together with our development partner, Durkan, we are creating brand new spaces for restaurants, a fantastic public square and much-needed homes right in the heart of Aylesbury town centre.
Four restaurants, with 47 one and two bedroom apartments above and a stunning new public square should be completed by early 2019. Long Lional, a busy pedestrian route to the High Street, will also be improved to help support existing businesses and create two new business spaces which could be used in a variety of ways including retail, food and beverage or offices.
Three large sculptures unique to the scheme will be unveiled in the public square in early 2019.
Find out more about the scheme in our FAQ page.
Find more information on parking in Aylesbury.
AVDC’s key partners for the development are;
Durkan will construct the scheme. Hunters Architects have designed the building on behalf of Durkan and Bradley Murphy Design have designed the new public square.
The Exchange is the latest stage in AVDC’s regeneration of the town centre and it’s an important investment to help transform the town into the place of choice for entertainment and arts.
The new public square has been funded by a grant from the South East Midlands Local Enterprise Partnership (SEMLEP), and it recognises the importance of creating high-quality spaces as town centres continue to face the challenges of online shopping.
Since 2010, Aylesbury Vale District Council has developed Aylesbury Waterside Theatre, Waitrose, Travelodge, and a new public car park. The University Campus, Aylesbury Vale at the head of the refurbished canal basin opened in 2015, to complete the District Council’s transformation of this area of town.
When finished, The Exchange will offer 47 one and two-bedroom apartments for rent and sale. The second phase of apartment sales starting soon, anybody seeking more information or to register their interest in the new homes should visit www.exchangeaylesbury.co.uk.
AVDC will own the freehold and Durkan the long lease on the apartments. The apartments will be for private sale and are split between 36 two bed with two bathrooms and 11 one bed, one bathroom. All apartments will either have a balcony or a terrace..
Four restaurants will face the new public square. Each restaurant will have outdoor eating space.
Zizzi is one of the restaurants opening at The Exchange. Although leases have been signed with some exciting restaurants, names are yet to be announced. AVDC is working to ensure that the restaurants complement those already in the town, and include some international cuisine, as well as being family-friendly.
A study undertaken by leading food and beverage consultants, Coverpoint, shows that Aylesbury has significant gaps in the number and range of eating places in the town centre, particularly given the growing population and the national trend for people who like to combine shopping with socialising.
AVDC’s decision to keep the ownership of the restaurants is in keeping with its policy of using capital money which it can borrow at a very competitive rate to improve the town centre whilst using the rent from tenants to pay back the borrowing and provide an income stream to help pay for other district council services.
The commercial space
The approved plans show three commercial units fronting Long Lional. However, the space is designed to be flexible depending on the occupiers and their requirements. There could be one, two or three tenants who might be retailers, food and beverage operators, or small office based businesses.
AVDC will also own this space and receive the rent.
The new public square
This stunning new public square will sit between the new building and the cinema and existing restaurants – Wagamamas, Gourmet Burger Kitchen and Nandos.
The design by Bradley Murphy, reflects feedback from a wide range of key stakeholders including the Bucks user Disability Service (BuDs), adjacent businesses, the Aylesbury Town Council and the Aylesbury Society.
The final details of the square are still being developed but two artists have been appointed by AVDC and Bradley Murphy – Colin Spofforth and Chris Brammall to design the fabulous public art which will be a key feature running through the square.
There are going to be three large statues which are sure to be a wonderful addition to the town centre - the theme behind the statues, which will be revealed at a later date, was developed through community workshops. The square is going to be a great place to enjoy and relax and will also feature attractive street furniture.
Other plans for Aylesbury town centre
£4.5 million has been approved to transform two of Aylesbury’s other key public spaces - Kingsbury and Market Square.
The broader Waterside North scheme received outlined planning permission in 2014. A joint planning application by Bucks County Council and AVDC included land and buildings adjacent to the Exchange Street car park in the ownership of the County Council.
Plans by the County Council included:
- the demolition of most of the rear of the Old County offices in Walton Street and the former police station to enable the new surface car park to be created (opened November 2015)
- the conversion of the upper floors of the remaining old county office to apartments with a new restaurant and civic use on the ground floor
- A new public square (Walton Square) linking Walton Street through to the AVDC scheme on Exchange Street car park via the Judges Lodgings
- Environmental enhancements to Walton Street
- The conversion of the former print works building for the Thames Valley Police for restaurant use
A masterplan for the redevelopment of the whole of the Exchange Street car park was submitted at the same time and this will be reviewed as the first phase develops.
The Aylesbury Town Centre Plan developed in partnership with key stakeholders, sets out the Vision for the town centre, guiding principles for development and action plans for improving the different areas of the town. Waterside North is included in the actions.