South Gloucestershire Council has completed a £10m acquisition of a shopping centre and car park in a major step towards its long-term regeneration vision for Kingswood town centre.
It is hoped that completion of the purchase will enable the council to develop plans for further investment into improvement, redevelopment and regeneration works in and around Kingswood High Street.
South Gloucestershire Council has secured funding from the government and commitment to an additional capital investment budget to acquire the site and begin a first phase of improvement and redevelopment works.
Commenting, South Gloucestershire Council Leader, Councillor Toby Savage said: “I am really excited to be able to confirm that we have completed the purchase of Kings Chase Shopping Centre and car park, which has been the subject of many months of hard work alongside the development of a masterplan.
“We are extremely ambitious for the future of Kingswood and this acquisition is critical to our ability to deliver something truly transformational.
“Alongside the funding now in place to transform the public realm on Regent Street and with the building work to restore the Whitfield Tabernacle now underway, I look forward to the opportunities this will bring to the community.
“The support from local people and stakeholder groups in Kingswood through the public engagement we have conducted was critical in our success in accessing government funding.
“This collaborative approach has allowed the public sector to intervene where the market is struggling.”
