Plans for a new £20m-plus development providing new homes and commercial space in the centre of Caerphilly have been revealed.
Caerphilly County Borough Council have given to go-ahead to transform Pentrebane Street in the centre of the town, where there are a number of derelict buildings for a scheme that would provide 73 apartments and seven commercial units at street level, which will be marketed at creative industry firms with a focus too on providing co-working space.
The project will see the council utilising funding from Welsh Government’s Transforming Towns programme to acquire the buildings, which will be demolished to make way for the development.
On completion the site will be transferred to housing association Linc Cymru with some of the properties earmarked for social rent. However, some of the apartments will be offered for sale in the open market. Depending on site assembly and the compulsory purchase order process work on the scheme could start at end of next year and be completed over a 18-24 month time period.
The project forms the latest stage of the council town centre 2035 regeneration strategy. A new market (Ffos Caerffili), built from shipping containers, will open in the town centre later this year.
James Pritchard, deputy leader and cabinet member for prosperity, regeneration and climate Change for Caerphilly County Borough Council, said: "The proposed redevelopment will be an exemplar case study for future town centre developments and will help attract further investment for Caerphilly. For a number of years, residents have talked about the need to re-develop the top end of town, so this is very much what we’re planning to do. We hope the plans approved today will clearly indicate our ongoing commitment to transforming the town centre and stimulating economic growth. With Ffos Caerffili also taking huge strides forward, the Caerphilly 2035 plan is coming to fruition.”
Siân Diaz, development director from Linc Cymru, said: “Projects like this are only successful when all partners are working together towards the same vision. Over the last few years, we have built a strong relationship with the council and with the support of funding from Welsh Government, we will ensure that the benefits from this development match the aims of the Caerphilly 2035 masterplan.
“This decision by the council will lead to the transformation of this part of Caerphilly town centre. All of these features are going to bring a new vibrant feel to the area and give visitors another reason to come to Caerphilly.
“The last few years have seen big changes for many people in how and where they work. A co-working space on this site will provide more benefits and attract people to work and enjoy the surrounding shops, bars and restaurants.”
The development’s projected £20m cost will be financed by public and private sector sources.
