Ryecroft Development Site
The Retail Development team was appointed to advise Newcastle-Under-Lyme Borough Council on the development potential, viability and planning constraints associated with 21 development sites identified within the town centre.
As part of this instruction, we were required to provide expert input, inter alia, in relation to baseline market research, strategic development advice, market demand, planning consultancy, financial viability testing, scheme design critique, programming, delivery & implementation and reporting.
Ultimately, the architect-led consortium was instructed to translate the findings into scheme design options for the preferred sites that were financially viable and deliverable by the private sector without public subsidy.
Our research and advice underpinned the identification of two key development schemes that would act as a catalyst for the regeneration of Newcastle town centre. These initiatives were to be driven by the local authority in partnership with a nominated private sector development partner.
Cushman & Wakefield subsequently prepared feasibility testing and strategic commercial advice to inform the deliverability of these key areas for the preferred uses. We also created and implemented delivery and planning strategies to bring these projects to fruition.
The preparation of the development briefs has been led by commercial considerations and financial viability. This provides the Council with the necessary confidence to take these strategic sites out to tender, in the knowledge that they represent an attractive proposition to the investment and development market.
The indicative schemes were carefully designed to ensure that they are capable of securing a transformation of Newcastle-under-Lyme town centre through carefully planned inward investment in order to reinstate the town to its rightful place in the retail hierarchy.
Following the adoption of the Masterplan recommendations, Cushman & Wakefield was retained to assist the Council in the delivery of the ‘Ryecroft’ regeneration area.
We acquired the major third party land interest in the site and marketing commenced in February 2014 in order to secure a private sector development partner to deliver the regeneration proposals. We subsequently advised the Council on the appointment of Henry Davidson Developments as the preferred development partner.