The former Riverside & Pride Hill Shopping Centres and associated multi-storey car park, bus station and surrounding area provides a 4-hectare (10 acres) regeneration opportunity for a residential-led mixed use development, with an enviable waterfront setting. The Local Authority as site owners will bring forward a high-quality, design-led development that will benefit from the early development of commercial office space for the Council and partners occupation, and the leisure-led redevelopment of the former Pride Hill shopping centre site and the adjacent, recently acquired Raven Meadows surface car park. This development programme will also facilitate advanced demolition and site remediation for the majority of the Riverside, bringing forward later phases of residential-led mixed use. An economic impact assessment supports the relevant business cases and demonstrates the wider regeneration opportunities.
The site’s proximity to Theatre Severn, quality green open space and historic quarter complemented by river frontage enables a diverse mix of cultural and leisure activities. It provides a significant opportunity to bring forward the aspirations of the Big Town Plan. Specifically, create a vibrant and vital new residential-led mixed-use quarter accommodating leisure, tourism, hospitality, food and beverage alongside the town’s first grade A office space, built to Zero Carbon targets 2030.
• A 10 -acre brownfield, regeneration site in the heart of Shrewsbury town centre.
• River-edge development site, in Shropshire’s county town in the loop of the River Severn.
• A key development quarter of the Shrewsbury Big Town Plan www.bigtownplan.org
• A detailed procurement and delivery strategy will identify mechanisms to bring the development programme forward at pace, including options for partnerships and joint ventures.
Why Invest In Shropshire?
Exciting investment opportunities exist in Shropshire, a well-positioned location right in the geographical centre of the UK, and within easy reach of the markets of the West Midlands, the North, Mid-Wales and into Ireland.
The ability to tailor requirements to suit sector and business needs, both now and in the future, has created what can be best described as a mosaic approach to development. One size definitely does not fit all in Shropshire; it’s far too independent thinking for that – this is the birthplace of Charles Darwin after all!
What works in the county town or one market town is not necessarily mimicked in the next, resulting in key employment areas of Shrewsbury (the county town), Oswestry, Whitchurch, Market Drayton, Bridgnorth, Shifnal and Ludlow providing a truly interesting and varied place to live, work and invest. This approach is boosting an already established high quality independent retail, pub, restaurant and leisure offer that provides unique experiences often found in city-living locations.
An increase in the hospitality, tourism and leisure market, alongside growth in creative and knowledge sectors is evidence of a growing number of business owners, creatives and entrepreneurs attracted to town and more rural living. Many no longer feel the need to be city-based making our towns beacons for those wanting a high quality of life for them, their families and their businesses.
Insight for investors
• Type of Investment Sought: Future delivery and investment
• Value and cost info: £350m + GDV
• Site Size: 10 acres (4 hectares)
• Jobs: 1,900 new jobs
• Timescale: 2022-2033
• Delivery Timescale: 5+ years
• Planning Status: Outline planning submitted in 2023