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Kettering's unique architecture sets it apart from many other large neighbouring towns says commercial property agent Prop-Search, as the historic market town looks set to undergo further regeneration.
As set out in the North Northamptonshire Core Spatial Strategy, the town will remain as the main retail centre in the sub-region, delivering a minimum net increase of 220,000 sq ft of comparison retail floor space to create a vibrant heart for Kettering; a place that is characterful, distinctive and fun. The aspirations are that the town centre will become the focal point for North Northamptonshire and more than just a place to shop.
Approximately £2.2 million has been invested in Kettering's award winning Market Place, transforming a disused space into a vibrant civic place, which also acted as a catalyst for private sector investment including the acquisition and refurbishment of the town's two historic hotels. The newly created Market Square, which includes the amphitheatre and covered performance area, is home to the town's Restaurant Quarter.
The Italian-themed chain, Prezzo is poised to become the first occupier to this area - taking some 3,500 sq ft. It looks set to commence trading in September, creating up to 20 new jobs. It is hoped that another restaurant operator will shortly be found to take the remaining 2,600 sq ft of retail space within the development. The national coffee chain Costa Coffee has applied for permission for a second unit in the town and Chatters Bar has also opened in Market Place, with the local Indian restaurant Mazza reportedly looking for another town centre presence.
Kettering Borough Council is currently trialling a big screen television in Market Place to gauge its popularity, to be used alongside its other programme of events. If the concept proves successful, the Council will look into the possibility of making this a permanent fixture to screen events such as this year's Olympics, but also for multiplayer console gaming. A new two hour £1.50 car parking charge is also being trialled in the London Road car park, aimed at providing better value and to encourage more people to stay in the town centre for longer.
The Council is also bringing forward proposals to take more traffic out of Gold Street and High Street; to redesign and improve the look of the town centre by helping with improvements to the frontage of the Newlands Centre and smartening up some of the vacant shop units.
Out-of-town, development is reportedly on schedule for a new Dunelm Mill store on Northfield Avenue, previously the site of the former cattle market which has stood undeveloped for many years. When the store, comprising some 23,000 sq ft, opens at the end of the year, it is anticipated to create up to 100 new employment opportunities.
Under the North Northamptonshire Core Spatial Strategy Kettering is required to deliver some 16,200 new positions by 2021. A combination of excellent manufacturing capabilities, strong academic research and development, and support from emerging technology companies, means the town is centrally placed as an emerging centre for business location and expansion. Although Kettering is well placed to serve as a distribution hub, the investment in higher quality housing, education and training, and excellent transportation links make it a good location for higher density, higher grade employment.
Prime industrial rents are between 30-45% less than London and the South-East, and a number of new business parks are being developed, exploiting the excellent transport links. For corporate headquarters to start-up premises, Kettering offers a wide range of workspace for all types of business.
The focus on job creation in the town centre has also been demonstrated through the development of Chesham House Design & Technology Centre back in 2009. This project was funded through £800,000 of external challenge funding and £200,000 by the Borough Council. This scheme has brought new high-tech employment to the town centre and forged new partnership working approaches with the University of Northampton.
The office hub and transport interchange at the Station Quarter will deliver an environment suited to those businesses which can benefit from the town's excellent rail communications, being less than one hour from London. This focus on over 400,000 sq ft of office development will diversify the town centre employment offer and develop a broader economic base.
This ambition is further enhanced with the announcement by Transport Secretary, Justine Greening that a £500 million scheme to complete the electrification of the Midland Main Line route - passing through Kettering - has been given the go ahead. This will help the town to generate high quality, higher density jobs by making the area more accessible to companies seeking to locate to an area which has excellent transport links with London and the North.
The North Northamptonshire Joint Core Strategy is currently being reviewed to take account of the recession delaying development and infrastructure investment and to plan forward to 2031. Many aspects of the existing Core Strategy will be taken forward, however, the review will result in a shift in approach on a range of issues such as a more positive and flexible approach to economic development; reduced housing targets to take into account the local needs and aspirations; and the identified of strategic development sites. A Pre-Submission Draft Plan is likely to be published early 2013.
Further information or advice can be obtained from Prop-Search - Tel: 01933 223300 or its website: www.prop-search.com