Published Monday, 19 February 2018
Work that will transform the shopping and living experience in Farnham is starting following the completion of an unconditional agreement between Waverley Borough Council and Crest Nicholson.
The signing of the agreement is an important step in delivering the Brightwells regeneration, a multi-million pound retail and leisure hub anchored by high street favourite Marks and Spencer Simply Food and REEL Cinemas, which will transform and revitalise an underutilised part of the town.
The shopping hub will boast a six-screen cinema, eight restaurants and 24 retail units, providing local people with more than 800 new jobs. The development will also include 239 new apartments, of which 72 will be affordable, surrounding a new town square, improved parking facilities and measures to improve traffic flow in the town centre.
Councillor Julia Potts, Leader of the Council, said: “I am delighted that we now have an unconditional contract. The agreement means that our vision to deliver a scheme that will reinvigorate Farnham for residents, shoppers and visitors can now finally get underway.
“Although some pre-commencement works have already taken place, the next major step will be to begin work on the access bridge, which will minimise traffic disruption during the works. It is expected that work will start straight away”.
“This agreement also means the council will receive a significant up front payment for the land and once completed an ongoing income stream which will support the ongoing delivery of council services.”
Chris Tinker, Crest Nicholson’s Group Board Director responsible for Major Projects and Strategic Partnerships, said: “We are delighted that the partnership arrangements with Waverley Borough Council and Surrey County Council are in place and we can now turn our attention to delivering this much needed addition to the heart of Farnham”.
Surrey County Council Cabinet Member for Property and Business Services Tim Oliver said: “This is a really significant step towards transforming Farnham. Our investment in this regeneration project will help to drive forward economic growth for the town and we are pleased to be supporting it alongside Waverley Borough Council.”