CEO in running for national award 3 Making the most of networking 5 Asian entrepreneurs vie for place on rich list 7 Garden to stir senses at top show 8
May 2014
getsurrey.co.uk/business in association with
all set for RETAIL REVIVAL The deal to regenerate a vital area of Guildford’s town centre is about to be signed off – now the search is on for a high quality store to be an anchor for the new retail destination By André Langlois
andre.langlois@trinitymirror.com
The changing face of North Street: there are hopes John Lewis will be anchor store for redevelopment.
Plans to cement Guildford’s position as a retail destination have been a long time in the making but with a deal set to be signed off, the regeneration of North Street will move forward this year. Work begins by developers Land Securities a year and a half after John Lewis indicated its willingness to be wooed by the town with a brief of its requirements. The retailer, seen by many as the perfect fit for an anchor store in town was central to the pitches offered by Land Securities, along with Lend Lease and Queensberry Real Estate, in their bids to become the council’s development partner. On April 24, Guildford Borough Council’s executive agreed to sign the deal which will see Land Securities start work on development plans for the site adjacent to the Friary Centre, which encompasses Commercial Road and parts of Woodbridge Road and Leapale Road. Members of the business community have welcomed the agreement which comes after protracted negotiations. Keith Churchouse, chairman of Guildford Business Forum, said: “It obviously has to be good news and I think the situation is that all parties in Guildford are very keen to see the North Street
Development move forward for the benefit of the town. “I think this is a small cog in the machine to bring greater prosperity to Guildford.” “I’m aware that we need to attract an anchor store to go forward. Guildford prides itself on being a retail destination and therefore John Lewis would meet the calibre needed. It will be interesting to see if they become the anchor store but I don’t think that’s signed yet.” He said that with improvements to the economy as it
‘I think all parties in Guildford are very keen to see the North Street Development move forward for the benefit of the town’ comes out of recession, retailers will be looking for opportunities in both Guildford’s High Street and in North Street. Although the opportunity for a John Lewis store has been widely welcomed, there have been notes of caution from some quarters about the over-reliance on retail for the town. Graham Hibbert from Guildford Residents Associations (GRA) said the regeneration has to be sensitive to the borough’s wider needs. “The GRA understands
that we need some growth in retail but we are concerned that what is done in North Street is resilient and sustainable,” he said. “Nobody can see 20 or 30 years in the future and it is terribly important that what is done there can withstand the changes that come. “We want a John Lewis as we want Waitrose but we hope that, in their planning, the council and Land Securities will ensure that the space is used wisely in the interests of businesses and residents alike.” Negotiations over the site involved M&G Real Estate, formerly known as Prupim, which is the current long leaseholder of the Friary Centre and the majority landowner of the site. An agreement with Land Securities was originally expected to be signed in February but negotiations failed to meet the deadline. At that point the delay should have meant the project was handed over to rival bidder Lend Lease - originally the council’s favoured partner until M&G purchased the Friary Centre. Instead, the borough council intervened, and extended the deadline with a £50,000 payment from the Land Securities for the delay. The development agreement will enable the acquisition of land not already held by the council or M&G.
LOCAL BUSINESS ON TAP part of the
e-edition out now for iPad® and Android™ devices
FR 4 WEEE TRIAEK L