As confidence in the property market rises, so the appetite for town centre regeneration becomes sharper. Historic plans are being reassessed and new schemes being given the green light.
That is the experience in the Midlands where Compendium Living, the joint venture of Lovell and the housing association Riverside, has been selected for the Urban Village scheme in Derby.
This is a large urban scheme of commercial space and 800 residential units together with community facilities with the first phase scheduled to start in Spring 2012.
In Telford, Hark Group, which owns the 92,900 sq.metres (1 million sq.ft.) shopping centre, is examining its long desired plans for redevelopment. One reason for the review is that the government has appointed Mary Portas to examine the current situation of high street retailing in the country.
Hark want to develop a multiplex cinema and new restaurant complex. A spokesman for the company said: “Recent positive developments at both national and local level have prompted us to consider how best to continue the growth of Telford town centre,” Those words will hearten other owners of town centre sites.
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