Creative Quarter Royal Leamington Spa
The Old Town of Leamington Spa is being regenerated as a new Creative Quarter – a focus for the booming video game industry and other creatives, providing cool space and the urban lifestyle that is key to further expansion of one of the UK’s leading creative clusters.
OPPORTUNITY
A partnership is in place to both deliver projects and to encourage investment in the area of south Leamington Spa, known locally as Old Town.
There are opportunities for new creative offices and mixed-use schemes to service buoyant demand from the creative sector, where demand currently considerably outstrips supply. The town is known as ‘Silicon Spa’, due to its UK leading video games development cluster, including both blue-chip companies and a large network of smaller creative businesses.
Promoter: Complex Development Projects and Warwick District Council
Scale: £150m+ GDV
Location: Royal Leamington Spa Town Centre
Investment Type: Funding and Development Opportunities
Sector: Mixed Use Leisure, Office and Residential
Programme: 2022–2028
Planning Status: Existing employment and mixed use sites. Masterplan approved for the regeneration area with detailed consent on phase one. Consent required on future phases – some are allocated
Website: www.leamingtoncreativequarter.co.uk
BACKGROUND
The town is one of the most buoyant market towns in the Midlands, located in an area with the fastest growth measured by productivity gains, outside of London, and home to a large amount of employment in knowledge intensive and creative businesses.
The South of the town has historically underperformed against the area to the North of the river. The new Creative Quarter is a key redevelopment site, prime for regeneration given its location next to the station and pleasing architecture. There is a well-established talent base with high demand for office space which is of high priority with the local authorities for investment. There is a diverse selection of successful creative individuals and companies attracted by a strong pool of local talent and a lively local creative community. The focus of this has been around the Old Town area, where nationally and internationally acclaimed companies such as Motion house, Heartbreak Productions and The Assembly music venue are based.
DESCRIPTION
Complex Development Projects Ltd (CDP) are in partnership with Warwick District Council to deliver an ambitious masterplan to regenerate the Old Town of Leamington Spa as a new Creative Quarter.
The geography covers an area stretching down from the river Leam to the canal, with Bath Street as the spine, and lies between the commercial centre of the town and the mainline railway station. It also includes some of the Town Centre to the North of the river including part of Hamilton Terrace (up to Newbold Street).
The Creative Quarter will not only restore several key buildings but also create a new gateway into the town, as well as improve the routes and environment from the railway station to the town centre. It will support the growth of the district’s thriving creative community by establishing a sustainable creative place in Royal Leamington Spa.
Phase one is currently under construction which includes the restoration, extension and change of use of three derelict buildings, including a Grade II listed former church. The c.£5m project will deliver approximately 1,672m² of flagship creative office space. Two of the buildings have been pre-let to a leading digital marketing firm, Cogent, and internationally renowned creative media training organisation, SAE Institute. The remaining building comprising c. 372m² of creative office space is available to let. This first phase will be completed in August 2023.
This development has been part funded through the Future High Streets fund programme. The £10m received will also be going towards a phased regeneration of the Town Hall, which is being managed by the Council, as well as the next phase of the Creative Quarter partnership which will be converting and extending two derelict buildings and a car park in the Old Town into a vibrant new arts hub and creative media destination.
The promoters are keen to work with funders and investors on Council owned assets. They are also interested in regenerating privately owned sites in the area through acquisition or in partnership to support the Creative Quarter plans.
PROMOTER AND PARTNERSHIPS
CDP and Warwick District Council are working in partnership with Warwickshire County Council and Invest Coventry & Warwickshire.
LOCATION
Royal Leamington Spa is a beautiful, historic and affluent spa town in the middle of Warwickshire in close proximity to Warwick and Stratford-upon-Avon, and located only one hour from London by train, with direct rail links to major cities like Birmingham and Manchester. It is located in a high growth area of the West Midlands, close to HQ centres for National Grid, Aston Martin Lagonda, Dennis Eagle, Jaguar Land Rover, Code masters and Microsoft Xbox studio Playground Games.