go

Newbury's Kennet Centre won't be demolished

Centre's management dismiss speculation over future

Dan Cooper

Reporter:

Dan Cooper

Contact:

01635 886632

Kennet Shopping Centre finds a buyer

NEWBURY’S Kennet Shopping centre will not be knocked down.

This week, the centre’s management team gave assurances that the building won’t be demolished, ending months of speculation about its future.

Instead, it has been confirmed that there will be an ‘exciting redevelopment’ of the centre, which currently comprises 50 stores/units and the Vue cinema.

The centre’s new owner, US firm HIG Capital, is considering a number of options that will ‘enhance the shopping experience’ and is expected to make an announcement soon.

Centre manager Mag Williams this week told the Newbury Weekly News: “I can confirm it will not be knocked down, which I know has been widely rumoured.

“The owners are considering different options which will enhance the shopping experience going forward.”

In July 2015, previous owner Alanis Capital put the shopping centre on the market for £18.5m. Six months later, it was announced that the centre had been snapped up by HIG Capital.

Several major retailers, including Debenhams and Poundland, have moved out of the centre within the last three years and a number of units are currently unoccupied.

Recent proposals for a 225-home development on the adjacent Market Street site only fuelled speculation about what might happen to the centre.

Last year, Richard Deal, of Newbury-based property specialist Deal Varney, said: “It’s always been a shopping centre in the wrong place.

“It has been flagging for some years, particularly when the recession started. The evidence is that people have moved from Kennet Shopping to Parkway.”

The Kennet Shopping management team are hoping to find a home for the centre’s murals, which are currently covered up by posters.

For more on the murals see the current edition of the Newbury Weekly News.

Leave your comment

Share your opinions on Newbury Weekly News

Characters left: 1000

Article comments

  • freddy

    02/11/2016 - 19:07

    I like the kennet centre its a proper shopping centre spacius and under cover (just needs a few more shops) not not like parkway which lets face it -- its not a shopping centre its just a few shops off the high street not what people expeckted or led to believe.

    Reply

  • PhilW

    01/11/2016 - 12:12

    Your reporter needs to go into the Kennet Centre some time - where he will find a branck of Poundland that hasn't moved out.

    Reply

    • Bombey

      01/11/2016 - 15:03

      Are you sure about that.....

      Reply

      • sayitasitis

        01/11/2016 - 15:03

        Didn't Poundland buy out the 99p stores??? I think they closed the Poundland store by the café and moved it into where the 99p store is

        Reply

        • Newbury Residen

          01/11/2016 - 16:04

          No there were 2 in the Kennet Centre and the one by the café moved into HMV store on the High St.

          Reply

        • Bombey

          01/11/2016 - 16:04

          Poundland is now in the old Morrison's unit on Northbrook St. The store in the KC is a 99p Store - part of the Poundland group since Feb 2015.

          Reply

        • Groundhog

          01/11/2016 - 21:09

          I think you'll find that it's a Poundland now

          Reply

        • Groundhog

          01/11/2016 - 21:09

          It's Poundland not 99p Store

          Reply

  • NewburyDenizen

    01/11/2016 - 10:10

    Glad to see someone doing something with it, in it's current state, a fire would be a good thing! Not that it'll result in much more than the usual carbon copy of high street stores you get anywhere.

    Reply

  • Bombey

    01/11/2016 - 10:10

    Management team make denial = Thing being denied is almost certain to happen.

    Reply

    • Groundhog

      01/11/2016 - 14:02

      and you're in a position to state that are you? No, thought not

      Reply

      • Bombey

        01/11/2016 - 15:03

        It is a case of SOB.

        Reply

        • Groundhog

          01/11/2016 - 21:09

          I got the silly old bit but what does the B stand for?

          Reply

        • Bombey

          01/11/2016 - 23:11

          Standard Operational Bull. Just an observation that when strenuous denials are made, often the opposite happens. Just watch a week in politics.

          Reply

        • Blizzard

          02/11/2016 - 00:12

          It's right up there with "Your jobs are safe"... Two weeks later "We are streamlining to enhance the customer experience and we no longer need you" SOB

          Reply

News

Housing shortage looming in village
News

Housing shortage looming in village

Rising house prices an indication of high demand, says report

4comments

 
Man jailed for sex attack on schoolgirls
News

Man jailed for sex attack on schoolgirls

'She repeatedly told him she was only 13, but he said it didn’t matter'

 
News

Bells to ring in memory of Newbury soldier

 
News

Young Thatcham cyclist needs sponsor to stay on track at top level

 
News

Dingley's Promise celebrates 20th anniversary