Funding arrives for town centre regeneration in Newcastle-under-Lyme
The transformational regeneration of Newcastle-under-Lyme town centre has taken a major step forward following the award of an £18.94 million infrastructure funding package by Homes England.
Newcastle-under-Lyme Borough Council’s once-in-a-generation plan is set to change the town centre by regenerating Ryecroft, Astley Place and the Midway car park, bringing 328 new homes, retail and businesses.
Social impact developer Capital&Centric is working with Newcastle-under-Lyme Borough Council to deliver the regeneration plans, with planning permission in place for all three sites. The arrival of £18.94 million from Homes England is the final part of the public-private financial package put together by the partners to underpin the work.
Simon Tagg, Leader of Newcastle-under-Lyme Borough Council, said:
“These three projects will change the face of Newcastle town centre, and I’m delighted that the final part of our funding has arrived as planned. There will be hundreds more people living in the heart of the town providing opportunities for new and existing businesses, while the reshaping of York Place and creation of public space there will link the Ryecroft to the High Street and market area. Add the plans for the apart hotel and the music space at the Old Bull’s Head and this is a most exciting time to be in Newcastle.”
John Moffat, Joint Managing Director of Capital&Centric, said:
“This is a major statement of intent by Homes England and Newcastle-under-Lyme Borough Council. It will enable us to deliver the regeneration that Newcastle-under-Lyme deserves. We are breaking new ground by doing something no one else has attempted before: taking a shopping centre and a car park and turning them into new homes. It’s an exciting moment. This funding will help us unlock the town’s potential and create a buzzing new heart for everyone to enjoy.”
Jo Nugent, Acting Executive Director Markets, Partners and Places at Homes England said:
“As the government’s housing and regeneration agency, we are committed to supporting partners to unlock housing sites where brownfield infrastructure is a barrier to delivery. This project will help to transform Newcastle-under-Lyme’s town centre, bringing a diversified housing offer of 328 new homes, commercial space and regeneration of brownfield land for the borough and the wider region. Made possible by a £18.94m infrastructure grant from our Brownfield Infrastructure Land fund, delivery is now ready to start and we look forward to seeing new residents move into these homes in the coming years.”
At Rye Park (Ryecroft), Capital&Centric will deliver around 130 apartments in three units, alongside a green urban park, while other parts of the site are earmarked for Aspire Housing.
At the former Midway car park, Capital&Centric is attracting nationwide attention for its trailblazing approach in repurposing a concrete-framed multi-storey car park into high-quality housing. In a UK first, the landmark concrete structure, now known as Karparc, will be transformed into 111 new apartments with shared facilities including a gym, residents’ lounge and mini-cine.
At the former York Place site, now renamed Astley Place, Capital&Centric are retaining the original shopping centre structure, repurposing it into apartments with ground-floor retail and leisure space and green outdoor areas.
That project will create more accommodation and commercial space, while opening the area between Merrial Street and Ironmarket, around the Old Bulls Head pub, where owner Joule’s Brewery plans to create a live music venue.
The transformation of both the Midway car park and York Place shopping centre into new homes will be the first of its kind in the country.
