Against the backcloth of the national economic downturn, Letchworth Garden City Heritage Foundation commissioned Skanska for an £8m contract to construct vital Street Scene Improvement works in the town centre as a pre-curser to the next phase and as part of its commitment to regenerate major parts of the town centre.
These works have now started and are scheduled to finish in May next year - with a break from mid November to mid-January in order not to disrupt Christmas trade.
Now the appointment of a Developer to work with the Foundation in delivering Phase Two – The Wynd Scheme – has been made and a Collaboration Agreement signed with Discovery Properties Ltd, a company founded by Hugo Hawkins in 1994 and financially backed by major contractor Bowmer and Kirkland. The Wynd is an area in the town centre with urgent need of revitalisation and most of the existing retailers have been, or will be re-located within the heart of the town centre.
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The Wynd Scheme will deliver 26 retail units from 500 sq ft to 10,400 sq ft, including an anchor food store of 27,000 sq ft; 113 flats, a 7,500 sq ft Play Area and 356 parking spaces.
The Heritage Foundation drew up a shortlist of four developers from a potential list of 60, with its property advisors King Sturge and subsequent negotiations with Discovery Properties Ltd, has led to the Collaboration Agreement being signed.
Stuart Kenny, Director General of Letchworth Garden City Heritage Foundation, said: "I am delighted that Discovery Properties will now be working with us to bring The Wynd development to fruition.
"Clearly, these are challenging times in terms of new development, but Discovery Properties and the Foundation share both the ambition and commitment to deliver this crucial regeneration."
(CD/BMcC)
