A major regeneration project set to transform a North Staffordshire town centre has taken a significant step forward after councillors voted to back investment in the scheme.
Capital&Centric is now looking for a main contractor to help deliver the redevelopment scheme in Newcastle, after the borough council approved up to £90 million of investment to support the project.
The funding will come from borrowing from the Public Works Loan Board and Capital&Centric will pay the sum back upon completion of the work.
The social impact developer is preparing to transform three central sites – Astley Place (formerly York Place), Midway Car Park and Ryecroft – as part of a vision to revitalise the town centre with more than 300 new homes, commercial space and vibrant public areas. The schemes will be considered for planning permission at a special planning committee meeting on Tuesday, 29 April.
With preparatory works already underway at Astley Place, the team is now inviting expressions of interest from experienced contractors to take on the next phase of the build.
Capital&Centric has told Daily Focus that it is speaking to both regional and national contractors. The main contractor that is appointed will have social value targets to procure a large proportion of the works packages locally and to support local training and education by agreeing to offer a minimum number of apprenticeship and training positions.
John Moffat, Joint Managing Director at Capital&Centric, said: “This is another huge step forward in our plans to give Newcastle-under-Lyme the glow up it deserves. It’s exciting overseeing three sites which, when all completed, will transform the town and make it more of a place people want to hang out in and live.
“The council has been very supportive of our vision right from the start and we’re very grateful for their continued encouragement to help turn it into a reality.”
The development has secured more than £35 million in funding through council-led bids and forms part of a wider ambition to regenerate the town centre with a mix of homes, workspaces and leisure offerings.
The regeneration plans include 42 new homes at Astley Place, made up of 33 one-bedroom and nine two-bedroom apartments, alongside 11,150 sq ft of business space, a new music venue and 34 cycle storage spaces.
At the site of the Midway Car Park, proposals feature 111 apartments – 78 one-bed and 33 two-bed – complemented by new community green spaces, 68 cycle storage spaces and 67 car parking spaces.
Meanwhile, the Ryecroft site, which will be known as Rye Park, is set to provide 135 apartments and family homes and 43 affordable rental properties, as well as a new urban park designed for community use and pop-up events.
Capital&Centric aims to retain and repurpose much of the existing structures, reducing build costs and carbon impact while accelerating delivery.
The council’s Chief Executive Gordon Mole said: “This marks another milestone in the exciting regeneration of Newcastle town centre. This major investment will change the look and feel of the town centre forever by bringing more people in to live, work and enjoy our excellent shops, pubs, cafes and restaurants.”
The regeneration of Newcastle forms part of Capital&Centric’s growing national portfolio, which includes schemes in Manchester, Wolverhampton, Sheffield and Cambridge – as well as the prominent Goods Yard development next to Stoke-on-Trent railway station, which is expected to open this spring.
Contractors interested in being part of the Newcastle town centre transformation are encouraged to contact Development Director Martin Crews via mc@capitalandcentric.com
