Council leaders in Stoke-on-Trent are seeking an additional £47m to fund the ongoing regeneration of the city. The proposed borrowing will contribute to improvements to highways, the Etruria Valley development and a new central business district (CBD) recently branded Smithfield.
Stoke-on-Trent’s new bus station from Grimshaw Architects
The regeneration of the city centre has already delivered a new bus station from architects Grimshaw and improvements to the public realm. The business district, which is under construction adjacent to the city’s Cultural Quarter, will provide 750,000 sq ft of Grade A office space, 60,000 sq ft of retail space, leisure property and 3.5 acres of public space.
The site will be anchored by the City Council which will relocate most of its departments to its new 210,000 sq ft, Clarice Cliff inspired, building upon completion.
It is believed that £32m of the additional capital will be invested into the business district, and this has not gone down well with critics of the scheme who oppose the council’s move from its current Stoke Town headquarters.
Chairman of campaign group March on Stoke, Alan Barrett, told the Sentinel that the council, which is expected to approve close to £20m of cuts shortly, already has debts that will take 60 years to pay back. He also questions the demand for office space in the city centre.
“The reason why more public money is having to be spent on the CBD is because after four-and-a-half years the council has not found a single business that wants to move there,” he said.
Council leader Mohammed Pervez responded to this criticism by insisting that the local authority is investing in the city’s future. He also conceded that the council may have to borrow again next year and that they are prepared to do so to “build the future our children deserve.”
Developer Genr8 says that extensive work has gone into the scheme’s design and that the CBD will “re-position” Stoke-on-Trent in the minds of both residents and potential investors.
“Smithfield is the catalyst that will spark the wider regeneration of the city and we are delivering a project and an environment that will put Stoke-on-Trent on the national stage,” Genr8 partner Mike Smith says.
Along with Smithfield, the regeneration scheme promises a 650,000 sq ft shopping centre, City Sentral, on the site of the former bus station, which is due for completion in 2016. However, an element of doubt surrounds this development since it was announced that the business district will also contain retail space.
Previous Post
South Wales Office Market Contracts
