Nuneaton and Bedworth Borough Council has outlined the way forward for its key regeneration projects.
Published plans announced in previous years have been disrupted by economic factors following Covid and international events.
Now, subject to Government approval, the Council can push ahead with revised investment proposals funded by a Department for Levelling Up, Housing and Communities grant previously announced, and a reduced package of future borrowing.
A report to the Borough Council’s Cabinet on Wednesday (21 February), agreed at the Full Council meeting on the same evening, outlines the revised package as part of this year’s Borough Council capital programme.
The package will comprise an updated Grayson Place project to be built alongside the Hampton by Hilton hotel which is now approaching completion at the top of Abbey Street, along with commitments to other schemes.
The new programme, with an outline cost of £94.5million, includes:
- a brand-new leisure centre with outdoor sport and leisure facilities including an all-weather football pitch and skateboard park in Bedworth
- confirmation that phase two of the Grayson Place development will include a cinema, food hall, refurbished restaurant building in the former India Red restaurant and a Digital Skills Centre for North Warwickshire and South Leicestershire College
- a ground level car park following feedback from businesses and residents concerning the multi-storey car park originally proposed
- a further phase of residential development creating additional new homes alongside Grayson Place
- paused investment in an extension to Nuneaton Museum & Art Gallery
- the Bridge to Living project will be replanned to ensure a viable residential development
- funding obtained from government by the Borough Council will be withdrawn from County Council-led highways projects previously put forward
- other schemes including electric vehicle charging points, improvements to Riversley Park, a contribution to a new George Eliot Visitor Centre and refurbishment of a functions room at The Saints will all continue as planned
To drive forward the development, councillors also agreed in principle establishing a Local Authority Trading Company (LATC), to support the local authority in the running of the hotel operation.
The full programme will be paid for with total government grant of £57.7million and borrowing of £36.7million.
Nuneaton and Bedworth Borough Council Leader and Portfolio Holder for Business and Regeneration, Cllr Kris Wilson, said:
“Our plans to invest in our communities remain exciting while being prudent and realistic. The business plans were originally agreed in 2018/19 and the world is a different place since they were approved.
“It is only prudent and responsible that as times and circumstances change we have to change with them. Since the plans were approved we have been through Covid, interest rate rises and inflation, so we have to adapt to a different financial backdrop.
“With the new town centre hotel now almost complete, we are making sure that development delivers maximum benefit to our area while remaining within our means.
“We have also taken this opportunity to make sure we continue the plans to reshape Nuneaton town centre to prepare for the future. It just means that we can’t do everything at once. It's not never, it’s just not now.
“We want to make our towns great places to live, work and visit, with fantastic facilities that will draw people from across our borough and beyond, helping revitalise both our town centres.
“We have already agreed plans to improve Bedworth Indoor Market this year, and now we are adding our renewed commitment to the Bedworth physical activity hub, too.
“This sound capital spending programme shows this Borough Council is ready and able to deliver substantial investment when our borough needs it.”