Big step for town centre plans

April 22nd, 2009

Telford & Wrekin Council is poised to make one of the most important decisions in its existence this week – pressing ahead with a multi-million plan to transform the town centre.

The Central Telford Area Action Plan outlines in detail the authority’s aim to create a 21st century heart for the borough, with dozens of new shops and offices and 2,500 homes being provided.

The plan is a scheme to give Telford a proper centre to replace the existing shopping malls surrounded by car parks.

It covers shopping, jobs, homes and leisure, outlining the vision of bringing life and vitality to the town centre day and night.

The planning blueprint also looks at ways of cutting the reliance on cars, following criticism that the existing shops are surrounded by a “racetrack” ring road in a sea of car parks.

It outlines ways in which people will be encouraged to get to and from the town centre on foot, by bike or public transport.

The plan also looks at the natural environment and how the town park can be protected for future generations as well as linking in more with the town centre.

And it examines ways in which the character of Old Park, Central Park, Malinslee and Hollinswood can be secured.

In his foreword to the plan, Councillor Stephen Bentley, cabinet member for the environment, says: “Over the last 40 years, Telford has grown from being a fledgling new town to become a successful and thriving town of 140,000 people.

“Now is the time to look again at what we want for the future of the borough as a whole and the important role central Telford plays.

“This plan sets a framework within which to bring forward proposals for major development.

“It will help to address the need for housing in the town centre, the limited opportunities for activity in the evening, the unfriendly environment for pedestrians and to improve and protect the town park.”

If the plan is backed at a meeting of the council on Thursday, it will be published, put out for consultation and submitted to the Secretary of State for approval.

By Peter Johnson

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Telford Homes expands into affordable housing

April 22nd, 2009

East London residential property developer Telford Homes announced it is expanding into affordable housing as difficult housing market conditions continue.

Telford said it has “worked to position Telford Homes for the economic downturn and has taken steps to reduce the impact of this downturn on the business.”

It has agreed a £57m grant with the Homes and Communities Agency and is in advanced negotiations with its housing association partners to construct developments entirely for affordable housing.

Chief executive Andrew Wiseman commented, “The strong partnerships which the company has with a number of housing associations and the grant programme agreed with the HCA mean that, to a certain degree, we are able to shelter the company from the lack of activity and confidence in the private residential market.”

“The board will focus on these relationships to achieve security of cash inflows before embarking on construction and will continue to ensure that the company is adapting to current economic conditions.”

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MP’s street market call

April 22nd, 2009

Telford MP David Wright today called for the return of traditional markets to help bring borough streets back to life and promised to champion the cause.

Mr Wright, who described himself as a proud Oakengates “lad”, said he would love to see market stalls in the centre of his home town.

And he promised to champion the cause of markets at a select committee hearing in Parliament this afternoon.

He told a 200-strong audience at Oakengates Theatre today for a meeting of Telford & Wrekin Senior Citizens’ Forum: “There are good markets in Telford and struggling markets.”

Wellington market, he said, was a real success story but the few stalls remaining in Oakengates were a pale shadow of what used to be.

“I’m going back to London this afternoon for a select committee inquiry into how we can promote better markets,” he said.

“Oakengates used to have a strong and vibrant market and its town partnership and Telford & Wrekin Council need to work together to bring stalls back here.”

Lively market stalls would attract shoppers into centres such as Oakengates, Dawley and Madeley and give local economies a much needed boost, he said.

Meanwhile, the forum, which is open to residents aged 55 and over, was thanked by Councillor Andrew Eade, borough council leader, for its input in the budget-making process. He added: “This was a genuine consultation, we had more than 400 replies and made substantial changes to our spending plans as a result.”

He also said the council would be announcing a considerable investment to tackle the crumbling state of roads and pavements.

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Telford Homes amends covenants; to get HCA grant

April 22nd, 2009

* Agrees with HCA for 57 mln stg grant program

* To invest in land to protect cash flow

* To write down value of land in FY results

* Says market conditions hit mortgage finance

* Shares rise as much as 14.7 pct (Adds details)

April 20 (Reuters) - British residential property developer Telford Homes Plc (TELF.L) said on Monday it had concluded talks with all of its banks to renew loans and extend all banking facilities with amended covenants.

Telford also said it had agreed for a 57 million pounds ($84.33 million) grant programme with the Homes and Communities Agency (HCA) across seven developments to part finance over 400 affordable homes over the next three years.

The company said although open market completions continued at a steady pace, there were delays resulting in some contract failures, and that it had contingency plans to cut the cash impact of failed completions.

For the year to March 31, Telford expects to write down the value of land and work on a restricted number of developments due to the continued decline in property values.

The company, which specialises in regeneration projects and affordable homes in East London, said the current market conditions had impacted the availability and cost of mortgage finance, which was affecting the rate of new sales and in achieving legal completions on open market homes.

“Telford Homes has only invested in land which results in cash neutral and risk-free development such as the construction of affordable housing,” it said in a statement.

The partnerships with several housing associations and the grant programme will shelter Telford, to a certain degree, from the lack of activity and confidence in the private residential market, it said.

Telford Homes shares were up 13 percent at 50 pence at 0733 GMT on the London Stock Exchange. ($1=.6759 Pound) (Reporting by Srikanth Srinivasa in Bangalore; Editing by Gopakumar Warrier)

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