Developer wanted for £25m transformation
THE search is on for a developer to undertake the £25m transformation of the Royal Arcade site in Crewe town centre.
Cheshire East Council which bought the facility in May last year is now working with real estate services firm Cushman & Wakefield to secure a developer build a cinema, restaurants and a new bus interchange.
The Royal Arcade site is the heart of Crewe town centre on a prominent island site totaling approximately 4.57 acres and is anchored by a BHS store.
It also home to a Wetherspoons pub, Boots Opticians, Santander, Millets, Shoe Zone and Crewe Bus Station.
Keith Hardman of Cushman & Wakefield said: “Royal Arcade was acquired by the council last year having been identified by Cheshire East Council as a prime redevelopment site that would act as a catalyst for the long-term regeneration of Crewe town centre.
“The procurement follows the Government’s announcement in the Autumn statement that the HS2 phase two route will be built via Crewe.
“High speed rail services are now expected to start from Crewe six years earlier than planned in 2027 and the announcement now makes the location of a HS2 hub station in Crewe much more likely.
“This will undoubtedly have a very positive impact on Crewe and the wider region’s economy. We have now begun the OJEU procurement process for parties to register their interest and submit their pre-qualification questionnaires.
“Requirements for the new scheme include a multiscreen cinema, restaurants, other foodand drink uses, a bus interchange, as well as improved linkages with the remainder of the town centre and enhancements to retained areas and public realm. The completed scheme could have a value in excess of £25m.”
Cllr Don Stockton, Cheshire East council cabinet member with responsibility for regeneration and assets, said: “Our purchase of this site recognises the importance that this strategic site has to offer Crewe and the wider region.
“We are now fully committed to ensuring that the right developer is selected to realise its true potential.
“The chosen developer will share our vision for the long-term improvement of the town centre.
“The redevelopment of Royal Arcade will not only increase footfall to the town centre and provide a valuable boost to the local economy but it will help to secure further retail and leisure investment, which will continue the important transformation of Crewe.”
The Council has already invested more than £15m in the town centre by investing in the Crewe Lifestyle Centre, which will open in April. Crewe University Technical College will also open its doors in the town centre in September as part of a new £10m investment by the Government.
