Leamington’s Old Town to receive £3m funding boost

The regeneration of Leamington’s historic ‘Old Town’ is set to receive a £3 million funding boost.

The West Midlands Combined Authority (WMCA) has put forward the money to help restore three rundown buildings off Spencer Street, including the Grade II-listed United Reformed Church.

The funding will enable developer Complex Development Projects (CDP) to turn the three buildings into modern workspaces for the town’s “booming digital creative sector”.

This renovation is part of the £45.5m Spencer Yard scheme, which is expected to create more than 140 jobs.

The scheme is the first phase of a 10-year partnership regeneration programme with Warwick District Council which has secured part funding for the project through a successful bid to the government’s Future High Street Fund.

Investments are also being made by the WMCA to help breathe new life into the region’s town centres and high streets, helping to drive the region’s economic recovery while relieving pressure to build in the green belt.

Leamington and the surrounding area is seen as a prime location for the tech and creative sector, with research showing that it is actually the most established destination for the industry outside London.

Andy Street, West Midlands Mayor and WMCA Chair, said: “Spencer Yard is another wonderful example of how the WMCA is helping to unlock scores of sites that were previously considered too difficult to deliver.

“Thanks to the substantial funding we’ve secured from government for our ‘brownfield first’ approach to development, we’ve been able to restore historic buildings like Leamington’s United Reform Church – repurposing the space to meet the needs of cutting-edge 21st century industries while preserving it for future generations to enjoy.

“Digital is the golden thread that increasingly runs right through all aspects of the modern working world and is central to building the high skilled, high wage economy of the future.

“We will continue to work with Warwick District Council – and indeed other local authorities – to regenerate derelict sites and drive economic growth in the months and years ahead.”

Andrew Day, leader of Warwick District Council, said: “This is another vote of confidence in the future of Leamington Spa. Along with the Future High Streets funding, significant investment has been marshalled to transform this underutilised area to establish a vibrant and innovative hub for our creative and digital industries.

“Once these amazing buildings have been reimagined and revealed, heads will be turned across the country, helping to attract further exciting businesses, innovators and start-up companies into our wonderful town.”

Ian Harrabin, Managing Director of CDP, added: “The funding provided by WMCA has been instrumental in enabling this project to be delivered in this difficult financial climate.

“Digital creative companies are attracted to Leamington because of the character and vitality of its town centre and the quality of life that helps them attract the best employees. But there is very little space available, and this project is the first of several to help satisfy this demand.

“It is great that we have not only been able to save important heritage but also to give it an economic life that will secure its future.”