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The property market in Bournemouth is set to benefit from new investment under plans that will transform the area to a modern leisure and lifestyle hub of activity
Bournemouth’s Town Centre Vision is gathering momentum with major private sector companies and consortiums competing for the opportunity to invest.
The ambitious plans from Bournemouth Borough Council will bring new leisure attractions, shops, cafes and restaurants and homes as well as a thriving events programme… hundreds of millions of pounds of improvements are forecasted.
The first major vision project – a £3.29 million world class dance centre in Bournemouth Pavilion – is under construction and scheduled to open this autumn. The centre will be the only one of its kind in the South West and will be run by Dance South West and Bournemouth Council.
Meanwhile, the council has taken the first bold steps towards redeveloping the much-hated Waterfront building (formerly an IMAX cinema) on the seafront, by buying the building and commencing discussions with tenants.
Cllr John Beesley, Deputy Leader of Bournemouth Borough Council, said: “We mean business – the Vision is already delivering and this is just the start. Over the next two decades we’re planning a comprehensive regeneration to enhance Bournemouth’s status as the South Coast’s premier destination.
“The private sector has recognised this as an exciting opportunity. The shortlisted bidders have all had strong involvement with major regeneration projects, have worked with the private sector before and have strong financial backing.”
Shortlisted bidders include Morgan Sindall Investments, a consortium of Crest Nicholson and the Trevor Osborne Property Group, Barratt in conjunction with Wilson Bowden Developments, Bouygues Development (part of the major global construction and service group), Incubed Regeneration (a consortium of Sutton Harbour Holdings and Anagennao Developments) and Cathedral Group in partnership with the investment fund Resolution Property.
The project has the backing of the South West RDA, which donated £550,000 to the Vision, and of Bournemouth Chamber of Trade and Commerce.
For further details visit www.towncentrevision.co.uk
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