The acquisition and demolition of the former Barclays Bank building in March has triggered the final stage of the town centre regeneration programme, opening up a key central site for future development.

Now cleared, the Broad Street plot is already drawing interest from developers. The council says it is the last in a series of investments that have revitalised the town centre and delivered wide-ranging benefits.

Following recent public and media scrutiny of purchase and clearance costs, the Council stressed the scheme should be seen as part of the broader redevelopment of March, rather than a standalone commercial venture.

Fenland District Council's Cllr Chris Seaton, lead member of the March Future High Streets steering group, said: "The development of this site is not a commercial investment, and it was never about generating a profit or income for the Council. It is a regeneration intervention, fully funded by the Government, designed to address what residents had called an "eyesore" of a building and to unlock a key town centre site where the market had previously failed. By their very nature, regeneration schemes do not often create income, which is why they are often grant funded. It is accepted that the wider economic and societal benefits they bring outweigh the capital outlay."

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The project was delivered through the Government’s Future High Streets Fund (FHSF), which supports town centres with interventions the private sector cannot deliver alone. A recognised outcome of the programme is creating viable development sites in prominent locations where long-standing obstacles have deterred private investment.

Cllr Seaton added: "If the Barclays site were viewed in isolation and purely on a commercial basis, it would be easy to draw the wrong conclusions. Regeneration is about the bigger picture - improving confidence in a site and putting them in a position where investment can finally happen."