Construction of new restaurants, apartments and an impressive new public square is due to begin in the heart of Aylesbury town centre this autumn.
The Waterside North development, to be located at the top of the Exchange Street car park, will mark the next phase of regeneration in the town centre, led by Aylesbury Vale District Council.
Following a tender process, Durkan has been appointed by AVDC as its development partner for this scheme. Durkan is a construction company and developer, established in 1970, which has extensive experience in major regeneration, housing development and infrastructure projects throughout South East England.
The plans for Waterside North’s first phase include a brand new building with space for up to five restaurants on the ground floor and around 47 one- and two-bedroom apartments, facing onto a new public square. AVDC will own the freehold of the site and the commercial space. Restaurant tenants will pay the council rent, which will be used to help the council balance its budget and for reinvestment in other services. Under the agreement with Durkan, AVDC will also receive a share of the income generated from housing sales.
Development of the public square which is to connect the new building with the existing cinema complex will be funded with a grant from SEMLEP (South East Midlands Local Enterprise Partners).
The scheme already has planning approval and a detailed application will be submitted in the spring.