Fareham Shopping Centre bought by borough council in bid to ‘transform’ the town centre

Fareham Borough Council has announced today (Tuesday, October 3) its acquisition of the shopping centre for £14.25m as part of a broader regeneration strategy which includes the construction of Fareham Live and the Osborn Road surface car park. Shopping centre advisors Rivington Hark have been appointed to guide the council on how to enhance the facility for shoppers and businesses.

Councillor Sean Woodward, leader of the council said the shopping centre presents a “unique” opportunity for the council to control places “at the heart of the town centre”.

“The unprecedented levels of funding we are injecting into this area underline the significance we place on having a vibrant, economically successful town centre and send a clear signal to the market that Fareham town centre remains very much open for business.

“It is important to say that the acquisition will form part of a long-term regeneration strategy for Fareham town centre, and we will work with the businesses that trade there to understand their views around what is required to improve the vibrancy of our town centre.

“There will be a full programme of public engagement and consultation, using a wide variety of methods, over the next six months to ensure that the long-term plans for the town centre are driven by the needs and aspirations of Fareham’s residents, businesses, shoppers and visitors alike.

“A key early priority will be to look at how the town’s evening economy can be enhanced by improving routes between the successful restaurants and bars in West Street and the Fareham Live venue in the evenings, for when it opens in 2024.”

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Mark Williams, executive director and co-founder of Rivington Hark, said he is “delighted” to support the council’s “strategically important acquisition”.

“Fareham Shopping Centre offers huge potential to improve the wider town offering and we look forward to working with the Borough Council in evolving and influencing those plans.”

The purchase also includes several properties that front onto West Street from the Jobcentre to the Coral Bookmakers. The public consultation is expected to launch before the end of 2023 and will take place over several months.