Unlocking Marketfield Way
Delivery Body: Reigate & Banstead Bourough Council
Coast to Capital LGF Allocation: £984,000
Match Funding Contrabution: £19,154,167
Project Status: Delivering
Summary of Project
This project will see the Council bring forward a flagship new landmark development in the town centre – Marketfield Way (MFW), which will be a ‘game changer’ for Redhill.
MFW represents a significant opportunity to bring about the comprehensive redevelopment of a large and underutilised prominent town centre site. The MFW scheme which has reserved matters planning consent will provide 150 new residential flats, a multi-screen cinema, high quality new ground and first floor commercial floor space, on site car parking and major public realm improvements.
LEP funding is contributing funding towards the enabling works that are required to unlock the site, ready for a start on site in 2020.
Specifically LEP funding has helped to contribute to:
- The relocation and re-provision of essential statutory services and the supply of additional network capacity;
- The demolition of properties fronting the High Street;
- Drainage works;
- Excavation and groundworks;
- Site compound establishment;
- Professional services including project management and cost consultancy
- 7.141sqm Commercial Floor space unlocked
- 150 units Housing
- 0.59ha Area of site reclaimed
- 4 Utilities diverted/installed