The £80 million redevelopment of Farnborough town centre began this week with the start of a demolition programme to remove 1960s shops and flats.
More than 100,000 sq ft of outdated retail and residential accommodation is being demolished during the four-month contract period which enables Key Property Investments (KPI), the joint venture between St Modwen Properties PLC and Salhia Real Estate Company K.S.C., to begin the transformation of the town centre.
Following the demolition which Erith of Kent is undertaking, the next action will be the diversion of gas and water pipes, phone lines, main sewers, fibre optics and electricity lines to clear the development area for construction. This will take the site preparations through to the end of the year.
Work on the 50,000 sq ft Sainsbury’s store and the 30 new shop units will start early next year.
Simon Rutter of St Modwen, expressed excitement at seeing the bulldozers moving in. “This is the first real sign that the townspeople have had of our seven-year development commitment being fulfilled. It should take away any lingering doubts about our proposals being delivered in full.”
Coun. Peter Moyle, leader of Rushmoor Borough Council, said: “It is just wonderful to see demolition work start on the town centre. Things will now be moving on more rapidly, as the demolition phases will all roll forward. In no time at all residents will start to see Farnborough town centre transformed into the shopping centre everyone wants and deserves.”
The massive project to create a new vibrant centre for Farnborough will be delivered with phases opening from the middle of next year through to 2009. Besides the Sainsbury’s store and shops, there is planned an eight-screen cinema operated by VUE Cinemas, Gala Bingo, a 77-bed Travelodge and the provision of 106 private residences and 26 affordable homes.
For further information contact Simon Rutter of St Modwen (020 7499 5666).
Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).