Transforming Nuneaton
Aimed at creating a thriving, vibrant town with an ambitious and aspirational programme of mixed-use development including residential, leisure and offices.
OPPORTUNITY
The promoters are seeking a developer for a prime development site in the heart of Nuneaton town centre. Anchored by Warwickshire County Council’s new library and business centre, this 2 hectare site provides the perfect opportunity for a private developer to bring in new mixed uses to the town, building on the new McCarthy and Stone development opposite and linking to the wider ambitions for the town.
Nuneaton town centre is the largest town in Warwickshire, near Birmingham and East Midlands airports and High Speed 2 Hub at UK Central, the first stopping point on HS2 from London. It is also the mainline station town for the 200,000m2 auto technology campus MIRA Technology Park and is on the doorstep of two major research universities.
Promoter: Warwickshire County Council, Nuneaton & Bedworth Borough Council
Scale: £100m+ GDV
Sector: Residential and Retail
Location: Nuneaton Town Centre
Investment Type: Forward funding, Joint Venture Developer
Programme: 2022–2028
Planning Status: Existing employment land, outline planning submitted, determination due Spring 2023
Website: http://www.graysonplace.co.uk/www.graysonplace.co.uk
BACKGROUND
Nuneaton is a well located West Midlands town providing a mix of retail, office and leisure, and currently limited amount of town centre residential. The centre has already seen investment on the edge of the town.
In 2019 CoFresh invested over £10m in a new 130,000m2 manufacturing and distribution centre, and Goodman recently completed a new 230,000m2 unit. In the town centre, recently launched Grayson Place development sees construction of a new hotel taking place, the first building within this mixed-use site being promoted by Queensbury and Nuneaton and Bedworth Borough Council. The site which has outline planning permission for leisure uses, residential and a food hall, supported by a new multi-story car park will be a boost to the leisure offer in the town centre and complement the new residential and commercial offers that are being developed.
Investment from the Towns Fund and Future High Street Fund also see major works to improve the highway network, public realm/parks, and educational facilities taking place, building on already improved infrastructure which has also delivered improvements to the road and new rail links delivered by the County Council and the Coventry & Warwickshire Local Enterprise Partnership, including direct rail services to Leamington Spa via Coventry.
DESCRIPTION
Transforming Nuneaton comprises the development of several key sites in Nuneaton town centre alongside supporting infrastructure improvement schemes. The local councils have secured significant funding to date to advance the ambitions including government’s Local Growth Fund (£7.5m), Warwickshire County Council (£41.1m), Nuneaton and Bedworth Borough Council (£59.3m), West Midlands Combined Authority (£1.5m), the Future High Street Fund (£13.3m) and the Towns Fund (£24.2m).
Vicarage Street is a 2 hectare site adjacent to the ring road and directly linked to the primary shopping area. This newly assembled site will house Warwickshire County Council’s new library and business centre, a landmark 4,200m2 building, forming the cornerstone of this site. With recently approved investment of £19.5m Warwickshire County Council will progress plans whilst working with a developer for the remainder of the site. Following extensive market assessment and testing, site investigations and topographical surveys a residential scheme will be developed.
This site presents a significant opportunity to introduce a residential development into the heart of the town, with excellent transport links as it is sited only 5 minutes from the rail mainline station.
In addition, adjacent to the site is the Bridge to Living scheme which will see the redevelopment of current retail units to create a mixed use scheme comprising live/work units, retail/workspace, and apartments. Complemented by the development of river frontage and improved connections between Town Centre and Riversley Park.
A prospectus including plans to regenerate Nuneaton town centre and the surrounding area are available, including a detailed capacity study for the town, developed with advice from the planning authority.
PROMOTER AND PARTNERSHIPS
Warwickshire County Council and Nuneaton and Bedworth Borough Council are working together with West Midlands Combined Authority and other stakeholders.
LOCATION
Nuneaton, Warwickshire’s largest town, lies in an area of high growth in the West Midlands, particularly in the auto, aero and logistics sectors, and is a rail mainline town with excellent road links. Only a short drive from both Birmingham International and East Midlands Airports and the new High Speed 2 Hub at UK Central, MIRA Technology Park and two major local universities. It has direct rail connections with journey times to London of 75mins and to Birmingham in 30mins.