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St. Modwen has been selected by West Berkshire Council as its Development Partner for the redevelopment of the London Road Industrial Estate, a 25 acre redevelopment site, in Newbury.

The UK’s leading regeneration specialist was chosen following a selection process involving five other developers.

St. Modwen will work alongside the Council on the project, who will retain freehold ownership of the 25 acre commercial and industrial area, to create a new mixed-use development on the site comprising business, retail and residential.

St. Modwen’s proposed masterplan includes provision for 300-400 new homes, a food store and a range of new office and business accommodation – extending to 80,000 sq ft, as well as a new road, which will be accessed via the A339. Some existing businesses will be retained including a number of prestige car dealerships and retailers.

It is anticipated that the Development Agreement between St. Modwen and West Berkshire Council will be finalised over the next few months, when community consultation will commence in anticipation of a planning application being submitted in 2015. The Council has resolved to use its powers for compulsory purchase in order to support delivery of this regeneration.

Brian Raggett, partner at Strutt & Parker, which is advising West Berkshire Council said:

“Following a competitive pitch process, West Berkshire Council has chosen St. Modwen to be its trusted partner to bring forward this significant new project on a site which is integral to the revitalisation of Newbury as a whole. St. Modwen has an impressive track record in successfully delivering substantial mixed-use developments of this size and stature and it’s fantastic to have them on board.”

Tim Seddon, St. Modwen ‘s Regional Director for London and the South East said the company is looking forward to realising the potential of the site:

“This is an extremely exciting opportunity to sensitively regenerate this major site in the heart of Newbury, to provide attractive modern employment space, new homes, a hotel and a foodstore.

“By introducing a greater mix of uses we intend to attract new industries, occupiers and jobs to Newbury, whilst also opening up the site, integrating it with the Town Centre and taking advantage of its waterside location.

“We’re now looking forward to working up our plans in partnership with West Berkshire Council to develop a sustainable scheme, which meets the needs of new and existing businesses, residents and which will provide a positive economic boost to Newbury as a whole.”

Nick Carter, Chief Executive of West Berkshire Council welcomed the appointment:

‘This is an important regeneration site in Newbury Town Centre and we are delighted to have appointed St. Modwen to work with us. We are extremely keen to bring new investment to this site as soon as possible to compliment the other projects that have been delivered or are in the process of being delivered in the Town. We firmly believe that St Modwen has the experience, commitment and resources to make that happen.”

The redevelopment forms part of the council’s Newbury 2026 Vision, which sets out the future aspirations for the town and identifies key opportunities for improving accessibility and protecting and enhancing the town centre.

Strutt & Parker is advising West Berkshire Council.