Developer set to be named for Leamington Old Town scheme
A developer to deliver a new Creative Quarter in Leamington Spa is expected to be appointed in the next two months.
The opportunity for developers to bid for the £30m scheme, which is designed to build on the town’s strengths as a centre of creative industries and national Silicon Spa reputation, has now closed.
The successful firm will work with Warwick District Council to restore and develop a section of Old Town including Spencer Yard and the Royal Pump Rooms and create new spaces and facilities for creative industries which is also hoped to create around 300 jobs.
Plans for the scheme were showcased at last year’s MIPIM property show before inviting tenders. The project will again be highlighted at this year’s show, which takes place in Cannes next month.
Bill Hunt, deputy chief executive of Warwick District Council, said there had been significant interest from several developers, and added that the council hoped to announce its preferred partner before the end of April.
“The Old Town scheme is not a standard urban development project and it is vital that we choose the right partner,” he said.
“We are looking for the scheme not only to restore several key buildings but also to create a new gateway to the town as well as improve the routes and environment from the railway station to the town centre.
“It involves high levels of restoration and refurbishment, but a suitable scheme will not only see those building brought back to life but will also aim to stimulate further investment.”
The town already has a national and international reputation for its creative and digital industries and the latest scheme will help to sustain the expansion of these sectors.
The creative scheme will help to revive an area of Leamington in need of investment to re-establish its economic value, character, and functionality.
Mr Hunt added that the council and the chosen developer were likely to put the final scheme forward for public finding support before work begins.
Warwickshire is partnering with neighbouring Coventry for this year’s MIPIM and the collaboration is expected to be supported by the presence of a group of property companies and organisations.
