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Market Street developer signs £52m contract

Work expected to start in December

John Herring

John Herring

john.herring@newburynews.co.uk

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Market Street developer signs £52m contract

WORK to redevelop Newbury’s Market Street is set to begin in December after developer Grainger signed a £52m deal with a contractor.  

Grainger has appointed Engie Regeneration as the main building contractor for the flagship scheme, which will result in an ‘urban village’ of 232 rented flats in buildings up to six-storeys in height and a 497-space multi-storey car park being built on the site of the current bus station.

The developer – the UK’s biggest private landlord – announced on Tuesday that it had signed a construction contract, which is expected to boost its secured private rent sector (PRS) investment pipeline by £61m.

Grainger chief executive Helen Gordon said: “We are pleased to announce this key milestone for our Newbury PRS scheme, which increases our secured investment pipeline to over £800m.

“This scheme will deliver 232 high-quality new homes for rent to Newbury, and it will significantly improve the gateway to Newbury and connection to the railway station and station amenities.” 

A new bus station is currently under construction at the Wharf and is expected to open in December. 

The scheme forms a key component of West Berkshire Council’s Newbury Vision 2026 to create a gateway into the town.

The council faced a backlash when it was revealed that it had given the 5.5-acre site, valued at £3.9m in 2013, to Grainger for free.

Further criticism came after Grainger announced that only 13 of the 232 homes would be affordable due to viability reasons. 

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Article comments

  • anormalperson

    21/09/2018 - 14:02

    This is a brilliant for Newbury and these comments are not a true reflection of your average person. Your average person doesn't moan constantly about 'unaffordable housing' just because you may of lived in Newbury for 20+ years it does entitle you to moan about every development of new housing. After all, it brings in the working professionals that will spend ££'s in the local economy - this is a good thing. It means more choice of shopping in the town centre.. more people = more demand for goods/services locally. You should really be ashamed of yourself if your commenting about foreigners - maybe you being priced out of the Newbury housing market is a good thing, then we wont have to deal with your backward views! Maybe if you're so upset about another regeneration of Newbury, you should move to the Article circle - I am sure you'll find something to moan about then too...

    Reply

    • dazzer

      21/09/2018 - 15:03

      And I bet you have recently just moved here from an over crowded drug ridden hovel.

      Reply

    • dazzer

      21/09/2018 - 15:03

      I voted brexit....when I go to the Drs all I hear is foreign accents.....long waiting lists.... I know foreign people getting housed before English people ....over crowded schools and roads. So no I'm not ashamed...why don't you move to Europe as you obviously voted remain which is unconstitutional and unlawful.

      Reply

      • dazzer

        21/09/2018 - 15:03

        And how do you know these comments are not a true reflection....? Proves you just talk b.s.

        Reply

  • gamstaman

    20/09/2018 - 22:10

    West Berkshire council woukd rather give a company land to build more unaffordable housing and see people out on the street, or worse still, continue to ignore or help people with mental health issues so they commit suicide as then its just one less problem for there bonuses to deal with. Vile human beings, the lot of them, worse than vermin!!!

    Reply

  • boris

    20/09/2018 - 19:07

    Oh and while I am in the mood so who is paying to move and build the bus station grainier I hope ,,so you visit newbury on the train or just want to get home it’s raining and you are told oh the bus station well that’s a half mile walk in the pouring rain hmmmm

    Reply

  • boris

    20/09/2018 - 19:07

    They gave yes gave the land away what sort of muppets are running this council jeez

    Reply

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