Browne Jacobson has successfully advised Cheshire East Council on its development agreement with Peveril Securities Ltd that paves the way for a major £48m redevelopment of the town.
Commercial advice was provided throughout the project by Cushman & Wakefield, led by Keith Hardman.
The Royal Arcade scheme includes a new bus station with an enclosed passenger waiting area, a 400-space multi-storey car park, restaurant, retail and leisure units,– anchored by a new state-of-the-art cinema. Demolition works on the site will begin later this month.
Councillor Nick Mannion, cabinet member for environment and regeneration, said: “The development agreement is the latest step in what is an exciting programme of regeneration for Crewe.
“We appreciate that the current pandemic has brought uncertain times for all of us, but this news not only shows our shared vision for the regeneration of Crewe town centre, it also shows our commitment to rebuilding the local economy.”
Cllr Mannion added: “The council and Peveril Securities Ltd have listened to local councillors and members of the recently established Crewe Town Board, to identify how the new bus station and multi-storey car park can be built as soon as possible.
“A planning application is now expected to be submitted in spring next year, with a partially completed bus station expected to be in place by summer 2022, with the plan to deliver the full facility and new car park in spring 2023.
“This scheme builds on recent successes seen in the town. It is also linked with other projects in the pipeline, which the council is bringing forward with the support and involvement of many partners that are working hard to develop
Crewe into a town that residents can be proud of.”
Zo Hoida, real estate partner at Browne Jacobson, added:
“We are delighted to have advised Cheshire East Council on completing an important stage in delivering this pivotal project.
“Our role underscores the strength and depth of our multi-disciplinary regeneration practice when it comes to advising public sector clients on high profile mixed-use, leisure-led town centre projects.
“When complete this project will have a transformative impact on Crewe and Cheshire East, creating new employment opportunities and delivering a compelling retail and leisure destination.”