Land sale smooths path to further town centre regeneration
Published on Monday, 13th November 2023
Members of Nuneaton and Bedworth’s ruling Cabinet have agreed to sell town centre land in Nuneaton to smooth the path towards completion of a crucial regeneration scheme.
The parcels of land, at Vicarage Street and just inside the town centre ring road opposite Nuneaton Justice Centre, are vital to a published scheme intended to create a new town centre library and business centre in the heart of the town, together with more than 65 new homes on brown field land.
A report to a confidential session of the Borough Council’s Cabinet last week (Wednesday, 8 November) outlined how a previous agreement regarding development of the land between the two councils had expired.
The joint effects of Covid and the effect on the world economy of the invasion of Ukraine had delayed the scheme.
The report recommended sale of the land as preferable from the point of view of time and budget required compared to forming a formal joint venture arrangement to take forward the development, subject to conditions about delivery of the scheme.
The report also outlined how the land must be sold at its economic value, and makes sense because the two areas of land border parcels of land already owned by Warwickshire County Council.
Nuneaton and Bedworth Borough Council Leader, Cllr Kris Wilson, said:
“This Borough Council is committed to regenerating our town centres and breathing new life into them.
“We are weighing up all our options as we try to get our regeneration plans moving forward again following the pandemic and the impact of the world economic situation.
“This is a sensible step that offers a fresh way forward for this important regeneration project, which in turn has a key part to play in our Transforming Nuneaton programme.
“Our land will only be sold once construction is ready to start and subject to a two-year backstop.
“This is a county council-led scheme, so it makes sense for us to help this project move forward in this way.
“We will continue to work closely with them and other partners with a view to bringing new residents, new jobs and new life to Nuneaton town centre.
“We are Building a Better Borough, so we will continue to work on our plans for both our town centres to help us improve people’s lives and bring forward more opportunities for the people of this Borough.”
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