Rushmoor Borough Council have purchased The Meads and Kingsmead shopping centre in Farnborough, as part of its ambitions for the long-term success of the town centre.
The purchase helps to support the Council in its wider regeneration plans for the wider Civic Quarter, where outline planning consent is now in place for redevelopment that will include a new leisure and cultural hub, shops and commercial development, energy-efficient homes, and a new central park.
As well as the shopping centre, the purchase includes the Sainsbury’s supermarket, car park and neighbouring shops, the Travelodge hotel, Wetherspoon’s Tilly Shilling, gym and play centre, along with 70 homes. The Kingsmead shopping centre contains 24 shop units, as well as the Vue cinema and business centre and multi-storey car park. The two current vacant plots in Farnborough have also been acquired, and proposals for development on these sites will be brought forward.
Eddisons property management company has been appointed to manage The Meads and Kingsmead on the Council's behalf.
Cllr. Martin Tennant, Deputy Leader and Cabinet member for Major Projects and Property, said:
“We know that our residents and businesses want our town centres to be better than they are now – and we agree wholeheartedly with them. We’ve made massive progress in Aldershot, where our Union Yard development is just one year from completion and will help to transform the town centre.
“The purchase of The Meads and Kingsmead is a fantastic opportunity for the council to take greater control of the town centre and help drive its future prosperity. We are in it for the long-haul, but we firmly believe it’s the start of a new era for Farnborough.”
Commenting, Leo said:
"This is part of the Council's ambitious plan to regenerate our town centres, building on the progress already made in Aldershot with the Union Yard development.
"Through this purchase the Council has signalled it's intention to revitalise Farnborough town centre, and deliver a centre that local residents and business will be proud of."
Pictured, The Meads shopping centre, Farnborough