Corn Exchange Update

The legal agreements for the Corn Exchange development should be signed soon. A marketing company has now been appointed.

There is no planning application as yet for the Corn Exchange. It is a £35M regeneration project to be completed over two years. The Corn Exchange building would be fully restored and brought back into use and would be fronted by a new public open space in the form of a pedestrianised market square. The development would include a hotel, apartments, restaurants and retail units.

The developer has stated that an additional 80 car parking spaces would be required if the project is to be viable and has suggested various possible options for consultation, including an extension of underground parking on site, a multi-storey car park nearby, or an area on the edge of the Lawns. These and other options would need to be explored and a viable solution found that was in keeping with the area.

The Corn Exchange Limited has met with local residents' associations and also the Old Town Business Assocation (OTBA) to keep people informed on the project.  OTBA is working with the Council for improvements across Old Town including overall parking needs and better signage.  This collaborative approach should benefit the whole area.

I am committed to consulting with local residents on their ideas.

A planning application should be submitted by the end of the year.  I look forward to the building's restoration in keeping with the character of the surrounding area.

Please let me know what you think of these proposals.