If you are investment planning in Cheshire, the local authority of Cheshire West and Chester Council (CWaC) is currently looking to encourage multi-million-pound investors to back their plans for Chester’s city centre.
This comes as part of the Northgate Phase 2 project, which was recently showcased in Leeds at the Real Estate Investment and Infrastructure Forum (UKREiiF). This project aims to boost investment and drive regeneration across the UK.
This follows on from the success of Phase 1 a few years ago, which added a new indoor market, cinema, multi-storey car park, office suites and a range of other mixed-use amenities around the existing Storyhouse building.
For its part, Phase 2 is focused on building new homes and creating vibrant public spaces on an established brownfield site, including the former Gateway Theatre, the old Forum shopping and office complex, and Hamilton House, Goldsmith House and Merchant House – three buildings which, in some sections, have remained empty for many years.
The council believes that a new residential area will bring longer-term benefits to the city centre, providing an as yet unspecified number of homes, boosting the local economy and leisure facilities, and reducing carbon emissions by physically bringing people closer to work.
During the procurement process, CWaC are hoping to secure a preferred commercial partner in early 2025, who can demonstrate financial muscle, development expertise and a sound track record of working collaboratively alongside local authority on joint projects.
In 2024, CWaC has allocated circa £5.8m of its capital budget to complete a programme of different regeneration schemes over the next three years.
