Regeneration of industrial estate takes step forward

Strutt and Parker has been commissioned to produce an opportunity document, to invite developers to put forward their ideas for the Faraday Road area which is expected to include a new access route onto the A339.
The document states that the industrial estate is an important area for regeneration, and the council would like to see a focus on new business, retail, residential and other uses.
One developer keen to partner with the council is director of Faraday Development Limited, Duncan Crook, who already has an outstanding planning application for the Faraday Plaza (artist impression pictured) on the estate.
The plaza gained planning permission in May 2009, but with the application due to expire, a renewal application was submitted to West Berkshire Council on March 30.
However, no decision has been made by the council.
The scheme includes a supermarket, 150,000sq ft of office space, a 100-room hotel, residential units, a crèche and care home, as well as community and health care facilities.
Mr Crook said he would respond to the opportunity document in the hope of seeing the Faraday Plaza come to fruition.
He said: “We have made it clear for six years that we are keen to work with the council.
“We will be responding to the opportunity document [to] help the council create greater value in its land and bringing community benefits by bringing forward some really exciting regeneration.”
Mr Crook added, however, that should the council choose to collaborate with another developer, the Faraday Plaza would continue as a solo project, subject to planning permission, as several million had been invested into the scheme so far.
Concern was raised among councillors that redevelopment of the estate would threaten businesses which may have to relocate, including Newbury Town Football Club.
The leader of the council, Gordon Lundie (Con, Lambourn Valley), said: “We don’t want to threaten businesses already established there,” he said. “We want to develop and enhance the site, we don’t want to go out and threaten established businesses.”
Developers will have until 12pm on Friday, March 18 to put forward their proposals, which will be presented to the council in April.