Stanhope’s stunning vision for Elwick Place, a pivotal Ashford Big 8 regeneration scheme is well on the way to being realised.
The brownfield town centre development is opposite Debenhams on Elwick Road. It will include a six-screen, 897-seat, boutique Picture House cinema, a 58-bed hotel to support Ashford’s growing tourist economy, eight new restaurants/cafés, 282 new car parking spaces and attractive public space and landscaping, helping to bring extra vitality to the town during the day and in the evening.
The legal agreement with Stanhope will see Ashford Borough Council forward fund the development and subsequently acquire it following completion. The partnership will enable the Council to then receive a secure source of long-term income generated through rents and business rates, helping sustain and improve the local services it provides, without the need for central government funding. It will also help it remain the lowest taxing authority in Kent and one of the lowest in the country.
The deal illustrates the Council’s sharp commercial focus and ability to partner successfully with leading private sector developers.
Want to become part of Ashford’s story? To find out more about this and other development opportunities in Kent’s Number 1 business location, get in touch with team.