Purpose

To consider the outcome of the optioneering report for Fareham Town Centre regeneration and to agree the proposed shortlist for further, detailed assessment for inclusion within the Regeneration Strategy and Action Plan.

The Council has a strong ambition to reverse the decline of Fareham Town Centre through regeneration, recognising the wider placemaking, economic regeneration and health benefits a more successful town centre would bring.

Fareham’s town centre has a key role in supporting the economy of the Borough.  It is the highest-ranking destination in the Council’s retail hierarchy and as such, is the main location for retail, leisure, entertainment and cultural activities for the Borough’s residents.

Work has already begun to deliver the Council’s significant regeneration ambition with the construction of Fareham Live, the demolition and replacement of Osborn Road multi-storey car park, alongside the purchase of Fareham Shopping Centre in September 2023.

The Council has appointed an asset manager to manage the Shopping Centre alongside regeneration consultants to develop a deliverable and realistic Regeneration Strategy and Action Plan.  Stage 1 of this work was reported to the Executive in January 2024.

Stage 2 work has now been completed.  After both a programme of engagement and detailed analysis by the technical teams, a short list of potential options has been developed to take forward for further detailed consideration as part of Stage 3.  This work is provided at Appendix A ‘The Fareham Town Centre Regeneration Strategy and Action Plan Optioneering Report’.

Decision

RESOLVED that the Executive agrees the Optioneering Report and the shortlisted interventions, as set out in Appendix A to the report, to continue through to detailed evaluation.