South Gloucestershire Council buys Kingswood shopping Centre
The local authority says the purchase will help regenerate the town centre
Last updated 19th May 2021
Kings Chase Shopping Centre in Kingswood has been bought by South Gloucestershire Council.
The local authority has spent £10 million on the purchase, which includes the car park, using money from the government.
In a statement the authority says it represents a "major step" in its long term plans to regenerate the town centre.
"This is a critical investment in the Future High Streets Fund Business Case, which was awarded funding by the Government on 26 December 2020, and completion of the purchase enables the Council to develop plans for further investment into improvement, redevelopment and regeneration works in and around the High Street," a statement from South Gloucestershire Council reads.
"Options for redevelopment include the potential for leisure, housing and community services to complement the retail experience, as the Council explores innovative new ways to bring vitality to the high street."
Shops within Kings Chase include New Look, Wilko and TUI.
Many have been closed for much of the pandemic because of lockdown restrictions.
The Government funding used to buy the site was established to support transformational investment in property and infrastructure as part of a reimagination of UK high streets.
The Kings Chase shopping centre was identified as a critical asset for the long-term viability of Kingswood as a hub for the local community for shopping and centre of local employment.
A public consultation on the Masterplan will be undertaken this Summer.
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."
Explaining the decision to purchase the site, the statement from the council continues that the private sector has been unable to deliver investment and a planned development did not come forward.
"The Council have 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," it reads.
Kingswood MP Chris Skidmore said: “I have been a proud advocate for the Council’s Future High Streets Fund business case and was delighted to see the Government co-investing in this.
"Seeing the Whitfield Tabernacle alive with building work and now this vital acquisition being concluded presents the start of an exciting future for Kingswood town centre.”