Basingstoke: Leisure park, cinema, hotel plans move forward

NewRiver's proposals comprise approximately 500,000 sq ft of leisure and approximately 200,000 sq ft of designer outlet shopping.

NewRiver said the oppotunity will be progressed "in line with NewRiver's risk-controlled development approach and stated financial policies".

The council and NewRiver have entered into a long-term development agreement conditional on achieving planning consent and pre-lets as well as a viability assessment. In the event that the development agreement becomes unconditional, the council will grant NewRiver a 250 year leasehold interest.

Outline plans for the leisure facilities include the introduction of exciting new leisure experiences for families and the wider community with a cinema, popular family restaurants and hotel.

Plans also include a modern aquatic leisure centre with gym, to be operated by the council, and a designer outlet village which will focus on designer brands at affordable prices and complement the existing town centre retail offer.

The project is estimated to generate over 2,000 jobs.

Early concepts and designs will be subject to a programme of community engagement and on-site works could begin from 2023, subject to planning consent.

Allan Lockhart, property director, said: "We are delighted to have signed the development agreement with Basingstoke and Deane Borough Council, one of the UK's most forward-thinking and commercially astute councils, to deliver a first of its kind leisure and retail destination of national appeal.

"Capitalising on the emerging trend of integrated leisure and retail, this exciting development is yet another example of NewRiver identifying an opportunity to create value from a site that offers significant unrealised potential through the creation of a truly unique leisure and retail destination."

Source: CoStar