Developer Crest Nicholson has received the green light to deliver 239 new homes and nearly 10,000m² of retail and leisure space set in a new Town square in Farnham, Surrey.
The Brightwells scheme will deliver 239 homes, including 167 for private sale and 72 homes under the Shared Ownership scheme to be purchased by Thames Valley Housing.
The scheme includes the Grade Two Listed Brightwells House which is to be retained, refurbished and extended. There will be a retail and leisure space and a 183-vehicle car park.
Crest Nicholson, who were first appointed to the project in 2003, will deliver the scheme over the next three years.
Councillor Julia Potts, Leader of Waverley Borough Council and ward member for Farnham Upper Hale, said:
“It’s been a priority for the council over many years to regenerate this part of Farnham so it becomes a sustainable, attractive and joined up part of the town. Somewhere people want to live, work and socialise.
“Like myself, many of my fellow councillors joined the council because we wanted to make a difference to our towns and borough. I am delighted that we are in agreement that this regeneration can now finally proceed and deliver huge community and financial benefits to the people of Farnham, the borough and the whole of Waverley.”
The regeneration secures more than £2 million of external investment into the Farnham community and includes an additional £2 million for highway improvements in central Farnham.
Crest Nicholson estimates that once finalised the Brightwells site will provide Waverley Borough Council with a potential income of £700,000 to £900,000 per annum from a combination of rental income, business rates and car parking.
Up to 400 jobs in the construction sector will be created during the development of the Brightwells scheme, with a further 400 permanent jobs in the leisure, retail and hospitality sectors once fully complete.