Works begin at 'The Exchange'

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A sod cutting ceremony has marked the start of the works taking place at Aylesbury town centre’s new development, The Exchange, this morning.

A sod cutting ceremony has marked the start of the works taking place at Aylesbury town centre’s new development, The Exchange, this morning.

Leader of Aylesbury Vale District Council, Cllr. Neil Blake, was joined by Fraser Wells, Managing Director for AVDC’s chosen development partner for the scheme, Durkan. The ceremony saw both officials donning hard hats and high-vis jackets in the spirit of the official ground-breaking as the works commenced.

Cllr. Neil Blake said: “It brings us great pleasure to celebrate the beginning of this much anticipated development this morning. The Exchange is central to our plans for the regeneration of Aylesbury Town Centre and I’m very much looking forward to welcoming new business to the area upon its completion.”

Fraser Wells, Managing Director for Durkan, added: “We are proud to be a development partner on this landmark project for Aylesbury Vale District Council. It is great to see a project start to come out of the ground knowing it will provide new retail, residential and public space in the centre of Aylesbury.”

The Exchange will provide Aylesbury town centre with its first purpose-built mixed restaurant and residential development to meet the demand for more town centre homes and leisure dining facilities.

Taking place at the top end of the Exchange Street car park, opposite the cinema, the development will create four new restaurants with 47 one and two bedroom apartments above them. It will also include a stunning new public square and additional flexible commercial space which will face Long Lional. The project is due to be complete in Autumn 2018.

The Exchange phase one, is part of the on-going transformation of Aylesbury town centre led by AVDC over the last ten years. A £100M investment has seen the building and opening of Aylesbury Waterside Theatre, Waitrose, Travelodge, a new car park, new canal basin and public square and the University Campus Aylesbury Vale.

The schemes are part of the Aylesbury Town Centre Plan which sets out the Vision for the town and an ambitious range of actions to regenerate the town to become ‘a destination of choice.’

AVDC’s investment is an integral part of its economic development and financial strategies. By using its favourable borrowing rates to fund the building of the new facilities, it has been able to create jobs and generate additional footfall and spend for town centre businesses. The rental income from tenants pays back to the council, the capital and creates an income stream for reinvestment in services.