Partnership agreement set to be signed for huge town centre regeneration project
West Northamptonshire Council is set to partner with placemaker, ECF – a joint venture between Legal & General, Homes England, and Muse – for the regeneration of Greyfriars in Northampton Town Centre.
The agreement will enable the partnership to explore and shape planning, delivery and funding for the largest brownfield regeneration opportunity within West Northamptonshire. Once established, the proposal would be subject to further approvals from both ECF and the Council, expected in summer 2025.
Greyfriars includes the former Greyfriars Bus Station, which was demolished in 2015, as well as the Mayorhold and Victoria Street Car Parks, Corn Exchange, Belgrave House and East and West Island – totalling over 14 acres.
The plans have been developed by West Northamptonshire Council and Studio Egret West with support from Homes England.
The Corn Exchange could form an arts and culture hub, whilst Belgrave House provides opportunities for a workplace and business incubator. The regeneration could also include a new outdoor amphitheatre to anchor landmark new public spaces.
The project could also includes new homes alongside shops, cafes and restaurants.
New residents and visitors are expected to spend an additional £21m in Northampton should the regeneration project go ahead. Up to 7,000 full-time equivalent jobs could be created during construction, generating £1bn in economic value.
Sir Michael Lyons, chair at ECF, said: “West Northamptonshire Council has developed an ambitious and exciting vision for Greyfriars, as part of a bold approach to the wider regeneration of Northampton Town Centre.
“Working in partnership with the local authority, ECF will support the development of a delivery model which aligns with the Greyfriars vision and supports long-term regeneration.
“Greyfriars has the potential to drive significant social and economic value and working together we can unlock the opportunity. Having expanded in size to £400m, ECF stands ready to collaborate with ambitious partners to deliver transformative regeneration.”
Cllr Dan Lister, Cabinet Member for Local Economy, Culture and Leisure said: “Transformational change is already underway across Northampton town centre with the redevelopment of the Market Square, and rejuvenation of Abington and Fish Street.
“As well as development plans on brownfield land at Four Waterside and Marefair which demonstrates the Council’s ambition but also commitment to delivering better public spaces. This partnership is an exciting step forward in our vision to regenerate the Greyfriars site into a vibrant neighbourhood which is set to amplify this part of town and turn this into a reality.
“ECF obtain a wide breadth of skills and knowledge which they will be bringing to West Northamptonshire as part of a long-term relationship to bring forward a viable and sustainable scheme.”
