14 December 2016
Victoria Square: Flagship Development Receives Financial Green Light
An investment package that will enable the transformation of the western quarter of Woking Town Centre has been agreed by, following the decision by councillors at their meeting on Thursday 8 December 2016. In addition to the Mayor, there were 27 Councillors present who voted; 19 in favour, five against and three abstained.
This major development, known as Victoria Square, will deliver more than 14,500 square metres of new retail floorspace anchored by Marks & Spencer, a new Boots store, hotel with conference facilities, 390 residential apartments, medical centre, additional car parking and two new public plazas.
The financial investment totalling £460 million will be financed by the Public Works Loans Board.
Cllr John Kingsbury, Leader of Woking Borough Council, said: “I am absolutely delighted that the long-a
“I am, however, fully aware of the concerns of some councillors as well as some local residents. This is a huge investment for our ambitious town and I would like to assure people that this decision has not been taken lightly. Officers of the Council, with the help of professional advisors, have worked extremely hard to keep councillors fully advised of all the facts to ensure an informed decision could be made.waited Victoria Square development has finally received approval from Council. We can now progress the project and all look forward to the return of Marks & Spencer to Woking. This decision will undoubtedly secure the vitality and sustainability of our Borough and will attract new commercial investment for years to come.
“The work already undertaken by the Council has transformed parts of Woking Town Centre for the better. Just look at what has been achieved in Jubilee Square and Commercial Way. Victoria Square is the next major step to achieve our long-term desire for a vibrant, 21st Century Woking that will meet the needs of current and future generations for which we can all be proud.”
The Victoria Square development, comprising the former Woking Market, Post Office, Globe House and Woking Fire Station sites, will be delivered by Bandstand Square Developments Limited (BSDL), a joint venture between Moyallen, owners of Peacocks Shopping Centre, and Woking Borough Council.
Whilst the demolition of the site is already underway, it is expected that the Victoria Square development works will commence during summer 2017.
