Cheshire East Council’s plans for the regeneration of Crewe town centre have taken another step forward, following the selection of a preferred development partner for the Royal Arcade site.
Following a rigorous procurement process, the council has identified Cordwell Property Group and Peveril Securities as its intended development partners.
Post-tender discussions, to firm up the terms of a deal, are now being undertaken and it is expected that a formalised development agreement will be brought to the council’s cabinet for consideration in September.
William Warrack, managing director of Cordwell Property Group, said: “Our proposal is for a mixed-use leisure and retail scheme, supported by a 450 space multi-storey car park and a new bus station.
“It will offer more than 90,000 sqft of retail space in addition to an eight-screen cinema, gym and five restaurant units. They will be housed in a cutting-edge setting designed to stimulate pedestrian flows through a regenerated town centre.”
Cordwell Property Group is working closely with its partner Peveril Securities – part of the Bowmer and Kirkland Group – and the council to finalise the terms of the scheme.
Mr Warrack added: “Our letting agents, Colliers, Knight Frank and New Street Commercial, are already in discussion with a leading cinema and gym operator together with a major household name retailer to anchor the scheme.”
The proposed scheme would still be subject to planning consent, which will be determined independently by the council’s strategic planning committee at a future date.
Councillor Stockton, Cheshire East Council cabinet member for regeneration, said: “We are focusing much of our energy in Crewe on the redevelopment of the Royal Arcade site as this will be the most important aspects of the town centre’s regeneration.
“It follows on from the success of Crewe Lifestyle Centre and Crewe University Technical College, which opened last year.
“However, we are mindful that there is much more that needs to be done and are developing plans for wider town centre regeneration, including options for the future of Crewe’s markets and new public realm.
“These ideas come from the dialogue we’ve had with our local councillors, Crewe Town Council, local businesses and residents. They reflect the council’s regeneration delivery framework and emerging plans for the Crewe Masterplan, which we will publish and consult on later in the summer.”