After previous bids to bring forward the regeneration of the redundant former Bargate shopping centre stalled, new plans are now on the horizon following the purchase of the loan by Bargate Ltd.
The acquisition of the loan brings to an end the difficulties that have dogged the site’s future in recent years. Bargate Ltd has already held initial discussions with the City Council over the site and with an agreement now reached, details of which remain undisclosed, further meetings are now due to take place.
James Burchell, on behalf of Bargate Ltd:
“We are looking forward to fully engaging with all stakeholders in respect of this opportunity, which lies in the heart of the city and at what is an exciting time for Southampton. Given the investment that has been attracted to Southampton from both central Government and the private sector of late, the regeneration of the former Bargate Shopping Centre site will only further make a positive contribution.”
“It is our intention to bring this site back into a positive use with a firmly viable mixed-use development. While we have developed some initial thinking for the site’s future, we have yet to finalise these plans. We look forward to talking to local residents, businesses and local representatives over the coming months as part of working up a deliverable set of proposals.”
Councillor Simon Letts, leader of Southampton City Council said:
“After previous disappointments, the fact that a new company is now taking the Bargate site forward is testament to Southampton’s continued attractiveness to investors. I am looking forward to working with Bargate Ltd and seeing their plans develop over the coming months.”
It is anticipated that architects will be appointed this summer and public consultation is targeted to start following the school holidays.