Detailed planning consent has now been granted for the major phase of the redevelopment of Farnboorough Town Centre by Key Property Investments Ltd, the joint venture between St Modwen Properties PLC and Salhia Real Estate Co to go ahead.
The go-ahead for the hub of the centre, including a superstore and a hotel, is the culmination of three years of detailed negotiations with Rushmoor Borough Council.
"We are now confident of being able to move forward," said Simon Rutter of KPI. "The scheme is anchored by a new food store and the other major elements are a 78-bed hotel, more than 100 private apartments, a bingo operation, together with a large amount of retail space, much of it at an advance stage of negotiation to let."
A road closure application is the next stage which will enable a start to be made on the major part of the redevelopment early next Spring.
"This has been a longer process than first envisaged but we are now looking forward to providing a new shopping and living environment in Farnborough over the next two years," Mr Rutter explained.
For further information contact Simon Rutter of St Modwen on 020 7499 5666.
Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771)