Bracknell: Town centre regeneration partnership unveiled

This is because a major step in regenerating the area is set to take a big leap forward tonight with the agreement to create the Bracknell Forest Limited Liability Partnership (LLP), a joint venture which will continue the town’s regeneration journey.

READ MORE: Bracknell town centre regeneration plans explained

Initial proposals to create a “thriving, 18-hour town centre” are already known but a new business plan for the future of Bracknell indicates which other parts of the area might be redeveloped further down the line.

In light of this, the News has tackled some of the key questions you may have about what this all means for your town.

What is the LLP and what will regeneration look like in the short-term?

The Bracknell Forest LLP is a partnership made up of Bracknell Forest Council (BFC) and developers Countryside, set to be formally incorporated next month.

Together, they are creating a Joint Venture, which will see the two organisations work on a 50:50 basis to provide new homes, shops, offices and leisure space in the town centre.

As previously revealed by the News, three town centre sites have been earmarked for regeneration in the next few years.

Market Street and Jubilee Gardens will join Coopers Hill in making way for up to 400 new homes, leisure facilities and retail units.

Plans to bulldoze Coopers Hill are set to move forward first, with proposals for 50 new family homes outlined in more detail by the council last week.

Work could start at Coopers Hill in 2021, as could work at Market Street.

What will regeneration look like in the medium to long-term?

Looking forward in the LLP’s business plan, Easthampstead House is mentioned as a site which could ‘unlock development potential’ going forward.

Highway changes are planned for the medium-term as the initial sites near completion.

According to the plan, the medium-term could also see the bus interchange facility re-provided as an on-street provision "to release the bus station site".

In the long-term, space to the west including The Peel Centre and the Western Industrial Area could be integrated into the town centre, according to the business plan.

The council has identified “a significant number of other development opportunities”, and Albert Road Car Park is one such location.

How will the LLP work?

The LLP JV is a business structure similar to Bracknell Regeneration Partnership, which oversaw the creation of The Lexicon.

It can make decisions on the future of the town centre, decided who is appointed to the LLP, and work out how to share profits.

READ MORE: Regeneration of former Bentalls store in Bracknell under review

Countryside will look after the project management, construction, sales, planning and legal aspects, while the council is the landowner and looks after the town centre vision and community engagement.

How much will all this cost?

Both the council and Countryside will contribute millions of pounds in order to regenerate Bracknell.

BFC will sell land to the Joint Venture which will be used as the sites chosen for regeneration projects.

The three sites already identified for regeneration — Coopers Hill, Market Street and Jubilee Gardens — deliver a land value of £4 million altogether.

READ MORE: More details about Bracknell town centre regeneration revealed

The council will also contribute a cash sum worth up to £17 million in order to deliver the first three sites, funded through different methods of borrowing.

According to the business plan, any council funding will be matched 1:1 by Countryside.

What’s next?

As mentioned above, the council is set to agree to the incorporation of the LLP tonight (Tuesday, November 10).

Should this go ahead, it will be officially incorporated in December.

BFC’s top team is also agreeing to the Coopers Hill development plan this evening, as well as the Joint Venture business plan.