Norwich City Council buys Anglia Square
It comes after years of uncertainty and unsuccessful development attempts at the site
City Hall has bought Anglia Square after securing millions of pounds in government funding, in a move intended to kickstart its transformation into housing.
The landmark deal has been secured in partnership with Homes England and comes after years of uncertainty and unsuccessful development attempts at the site.
The £300m revamp of Anglia Square, which would have seen up to 1,100 new homes built, along with office, retail and leisure space, was suddenly scrapped earlier this year after its developers said the scheme was no longer financially viable.
The council hopes to secure further government funding to allow it to carry out demolition and building works.
City Hall launched its bid to bring the site into public ownership earlier this year after Weston Homes backed out of the project due to delays having pushed up costs.
The site was bought by asset management company Columbia Threadneedle for £7.5m in 2014, but the collapse of the Weston Homes plan means the future of the 11.4-acre site has been shrouded in uncertainty for many months.
The funding for the purchase of the site from Columbia Threadneedle has been provided by Homes England to the council – but it has not been confirmed how much was spent.
However, City Hall still needs millions of pounds extra funding for work to get under way.
Mike Stonard, leader of Norwich City Council, said: “The council has grasped this golden opportunity on behalf of the people of Norwich to bring a bright new future to Anglia Square and ensure it’s developed as quickly as possible to benefit the people of Norwich.
“We are now in the driving seat to create a new Anglia Square with affordable homes, diverse retail and leisure outlets, a new neighbourhood centre, and well-paid jobs for local people.”
Development plans include up to 1,100 new homes, a variety of retail, office and leisure spaces with landscaped gardens and a new neighbourhood centre.