Banbury: £2m site purchase opens up regeneration plans
Plans to transform Banbury’s canalside into a hive of new residential, commercial and retail development have edged closer after Cherwell District Council purchased a redundant brownfield site for £2.15 million.
The former Antelope car dealership site, opposite Morrisons supermarket in Swan Close Road, was purchased from Newcore Capital Management following the closure of the Nissan dealership in September last year.
The 0.9 acre site, which comprises a modern showroom with offices, petrol station and garage, will be developed by the council as part of its long-term vision to redevelop the wider canalside area.
Adrian Colwell, head of strategic planning and the economy, said: “The canalside area along the Tramway industrial estate has been identified as a key site for regeneration within Cherwell District Council’s approved Local Plan and that includes the former Antelope site. The canal is a unique feature within the town and we want to capitalise upon that by making it a focal point where people congregate for business, leisure and pleasure.
“The purchase of this site marks the first step towards transforming that whole area into a cosmopolitan mix of residential, commercial and retail uses which will create new homes, jobs and leisure opportunities for the town. We are already working to deliver a new cinema, restaurants and supermarket further along the towpath as part of the Castle Quay 2 development so this latest acquisition represents the start of an exciting future for Banbury which will feature the canal at the heart of it.”
Cherwell’s adopted Local Plan outlines key development sites across the district until 2031. It features 26 hectares to be developed as part the Banbury canalside regeneration project which will eventually feature 700 homes alongside 15,000 sq m of employment land for offices and town-centre uses.
