Ashfield Land has acquired insolvent Parkridge Retail’s share of the Regent Circus development in Swindon.
The developer is now the sole owner of the £50m Regent Circus development, which has planning permission for a 52,000 sq ft Morrisons supermarket, restaurants, offices and a cinema across the 5-acre former Swindon College town centre campus.
Ashfield Land acquired the 50% share from PwC, following its appointment as liquidator to Ashfield’s joint venture partner Parkridge in August. The value was not disclosed.
Andrew Fisher, managing director at Ashfield, said: “This is excellent news because it ends any uncertainty associated with the Regent Circus scheme and means we can now press ahead with the regeneration of a key area of Swindon town centre.”
Work on the project will begin in early 2012.
joanna.bourke@estatesgazette.com
