UK & European Investments has submitted a revised planning application to redevelop Stratford Town Square into a high quality retail and leisure destination, located in the heart of Stratford town centre.
If approval is granted, the proposed £30 million redevelopment will deliver over 70,000 sq ft retail, restaurant and leisure space, including a four screen, 12,000 sq ft Everyman cinema. Additionally, improvements will be made to the public realm, including outdoor seating, soft landscaping, feature lighting and introducing public open space for events and outdoor entertainment.
Last month, hundreds of people visited a public exhibition to view plans for the proposed scheme with the huge majority (92%) of attendees agreeing that Town Square is in desperate need of investment and improvement.
If the proposed scheme is given the go-ahead, UK & European Investments intend to rename the development Bell Court and re-install the 14th Century bell that was previously hung at the site.
John Stacey, Asset Management Director at UK & European Investments, said: “For many years, Town Square has been an under-used part of Stratford. There is now a clear window of opportunity to take forward this important regeneration project. Our revised proposals significantly improve upon the existing planning consent that was granted in early 2014 and, following our deal with Everyman, we are in a strong position to implement our exciting plans for Town Square.
“Since acquiring the lease to Town Square at the end of last year, we have worked closely with our planning team and architects, as well as local organisations and key local stakeholders including Stratford-on-Avon District Council and Stratford Town Trust to ensure the proposed scheme will complement Stratford’s existing town centre offer. We believe that our proposals will create a high quality, well managed environment where both local residents and visitors to Stratford-upon-Avon can shop, eat, drink and enjoy their leisure time.”
As part of the planning application, UK & European Investments also intends to improve all routes and entrances into the scheme, including making Terret Court an open street.
If planning approval is granted, construction will start later this year and Bell Court will open to the public in mid-2017.
UK & European, acting as investment manager, own the lease to Stratford Town Square; two thirds of which is owned by Stratford District Council and one third by Stratford Town Trust.