Invest in Hampshire: Farnborough
NovaLoca are focussing on new opportunities for investors and businesses in Hampshire this month. So far we’ve looked at exciting new developments in Basingstoke and seen Portsmouth as one of the country’s top 20 hotspot areas for new businesses.
The town of Farnborough in north Hampshire is famous for being the birthplace of modern aviation and flying enthusiasts flock to visit the Farnborough International Air Show and Farnborough Air Sciences Trust museum. A multi-million pound regeneration of the town centre has made progression, aimed at attracting new investment.
Town Centre Redevelopment
Phases 1 and 2 of the redevelopment were completed in 2010. The phases included 185,000 sq ft of new space with a new 62,000 sq ft Sainsbury’s superstore with parking for 260 cars, a Travelodge hotel, JD Wetherspoons, Starbucks and New Look. In 2015, a new seven-screen Vue Cinema and Prezzo restaurant opened.
In 2013 work began to refurbish the Queensmead shopping centre. Work involved new paving, street lighting, trees and benches. Another part of the £1m refurbishment included the installation of a new drainage system and paving to reduce the risk of future flooding.
Civic Quarter
In 2015, residents had their say on regeneration plans for Farnborough town centre. An exhibition was held which allowed the public to put forward views on plans to renovate the civic quarter at the southern end of the town centre.
An important part of the civic quarter plan is to improve the green space in the centre of the Civic Quarter, introducing new activity and encouraging more people to make use of the open space.
Future Development
Over the next decade, Rushmoor Borough Council propose an investment of more than £250m on top of the £150m that has already been invested in The Meads’ project at the northern end of the town centre. The overall plans include more than 200,000 sq ft of new shopping centre space with improved town centre car parking, new business space, new hotels and leisure space and new homes in and around the town centre.
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