CATHEDRAL TO PARTNER BROMLEY TOWN CENTRE SCHEME
The London Borough of Bromley has announced the selection of Cathedral Group PLC as its development partner for a key site at the southern end of Bromley High Street, as part of the Council’s wider proposals to enhance the Town Centre economy.
Cathedral’s winning proposals, designed by Geddes architect have been given the working title of Bromley Reach and will see the existing 600 space Westmoreland Road car park demolished and replaced with a high quality mixed use leisure development. The scheme will focus around a stunning public piazza and include a nine screen multiplex cinema, 25,000 sq ft of cafes and restaurants, a 150 bedroom business hotel, 173 private and affordable apartments and a new 400 space underground car park. The scheme is expected to create 370 jobs in Bromley, and provide a total of £300m GVA (Gross Value Added) to the local economy over the next 10 years.
Cathedral’s selection follows a competitive bid process, which called upon prospective developers to demonstrate not only that they could fulfill the Council’s strategic aspirations for the 2.5 acre site which is seen as critical to the continued success of Bromley as one of the ten major metropolitan centres identified in the London Plan, but also create a new and exciting leisure destination which is both sustainable and deliverable in today’s more challenging economic climate.
Accordingly Cathedral’s Bromley Reach scheme places a high priority on the quality as well as quantity of public realm, with a new landscaped piazza around which cafes, restaurants and other amenities are grouped, creating an attractive, managed, environment for families and groups of friends. A Community Trust will deliver an ambitious public art programme and other innovations such as an outdoor climbing wall will ensure that all sections of the community are catered for.
Cathedral is committed to achieving Code for sustainable homes level 3 across all of the residential element of Bromley Reach together with a reduction of up to 30% on energy costs for residents through better insulation, good ventilation and the potential provision of an on-site combined heat and power system. The site’s location one minute from Bromley South railway station (direct links to both Victoria and Blackfriars in less than 20 minutes), is a major benefit for achieving sustainable patterns of transport, but Cathedral also proposes to introduce a car club and a revolutionary self service bicycle rental scheme, such as the one successfully operating in Paris. Residents and visitors will be encouraged to use cycle power to travel between Bromley Reach and the heart of Bromley’s shopping district at the Glades, along the High Street, linking the new development with the existing amenities of Bromley.
Marc Hume, Director of Renewal and Recreation for the London Borough of Bromley, said:
“We look forward to working with Cathedral Group PLC and with the community and other key stakeholders around the Westmoreland Road site to bring forward an exemplar scheme.”
Cathedral Chief Executive, Richard Upton commented:
“Cathedral Group has unrivalled experience in public private partnership projects and we approach each brief with determination and vision. We are delighted to be working once again with Bromley Council, on a site which is so key to the continuing success of the Town Centre economy.
“Throughout the UK regeneration projects are running into trouble. Yet even in the current climate Cathedral has been able to ensure that 60% of the Bromley Reach scheme is under offer to quality leisure and public infrastructure covenants and other service providers. This is testament both to the thoroughness of our approach, and to Bromley’s attractiveness as one of the foremost regional centres in the South East.”
A planning application is timetabled for later this year following extensive public consultation, with work starting on site in late 2010 and completing by 2012.
ENDS
FOR FURTHER INFORMATION OR HIGH RES IMAGE PLEASE CONTACT:
Richard Upton, Chief Executive, Cathedral Group
Tel: 020 7939 0800
E-mail: richard@cathedralgroup.com
www.cathedralgroup.com
Louise Rodgers, Director, Quatro
Tel: 020 7566 7966
E-mail: lrodgers@quatro-pr.co.uk
NOTES TO EDITOR:
Bromley Reach further enforces Cathedral’s position as the most innovative developer in public sector partnerships. In recessionary times public/private partnerships offer a unique opportunity for public bodies to deliver first class public infrastructure, public realm and build local economies. At the same time, Cathedral’s unique business model on minimal land and holding costs, bottom of the market values and significant pre-sales and pre-lets to secure debt and equity.
Cathedral has offers to purchase / lease more than 50% of the Bromley Reach project.
Cathedral’s PPP portfolio includes some 1,000 bedrooms of student accommodation alongside doctors’ surgeries, public libraries, budget hotels and public leisure centres. The company’s strong track-record of devising and delivering successful projects with local authorities and other public sector bodies was a critical factor in its selection.
Tuesday 24 February 2009
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