The redevelopment of Market Street, Newbury reaches a key milestone as Grainger plc makes a £1 million developer contribution to West Berkshire Council to support further investment in local infrastructure and housing and which will allow construction on the 232 home scheme to start later this year.
The project is a partnership between West Berkshire Council, Network Rail and Grainger plc, the UK’s largest listed residential landlord, and forms a key part of the Newbury Vision 2026 which has already delivered projects such as Parkway, the Newbury cinema and the town centre pedestrian zone.
In addition to increased housing and commercial space, the partnership will provide additional parking capacity in the town centre, a new station plaza, new landscaped step free pedestrian routes through the site and a new bus station. All of which is aimed at improving the connection between Newbury town centre and the railway station and helping ease traffic and congestion.
This comes on top of Network Rail announcing that Newbury station is set to benefit from rail line electrification, which will transform the current service from London, delivering faster, greener and quieter travel with extra capacity – opening the door to more visitors coming to the town. Improvements to the south side of the railway station are now in the advanced planning stage and will greatly improve the current rail interface with buses.
Nick Carter, Chief Executive of West Berkshire Council, said:
“The Market Street development is a fantastic vote of confidence in Newbury’s economy. It will create more than 220 new full-time jobs over the next four years and, when complete, is expected to provide more than £4m of additional expenditure in local shops and services each year. West Berkshire Council will also receive £1.78 million of Government funding towards additional commuter parking which will be another great asset provided as part of this scheme.”
Chris Fletcher, Development Director at Grainger plc, said:
“We are delighted that this important project is now moving forward. It is a result of our successful ongoing partnership with West Berkshire Council, Network Rail and the local community. We look forward to delivering this fantastic scheme for Newbury which will deliver 232 new, high quality homes, and improve important aspects in and around the station.”
Kirsten Durie, Network Rail’s Principal Development Manager said:
“This scheme will not only bring benefits to people using the station, but to the whole town.
Our wider programme of investment, including electrification, will pave the way for new trains and a more reliable railway which supports and encourages economic growth across the region.