Business Cases / Public Sector Funding

Property Market Analysis

Central Bedfordshire Council

Outline

AspinallVerdi and Nicolas Tye Architects (NTA) were commissioned by Central Bedfordshire Council (CBC) to look at a number of options for the Dorchester Close site in Dunstable Town Centre – considered to be a key site in the regeneration of Dunstable. This project built on the earlier Dunstable Town Centre Masterplan work undertaken by Tibbalds and AspinallVerdi. 

The project involved approaching potential occupiers to gauge interest in a new leisure scheme for the town centre. Establishing demand for the site also helped to ensure that the proposals were deliverable. This research was used to inform the options for the site drawn up by NTA. 

Once concepts were in place for each of the options, AspinallVerdi were then responsible for testing their financial viability and delivering recommendations to the client. 

Services Provided

AspinallVerdi provided the following services:

• Property market research and report.
• Consultation with potential occupiers.
• Working with the Nicolas Nye Architects to produce a viable and deliverable scheme.
• Development/viability appraisals.
• Delivery advice.

Outcome

From the 4 scheme options, 2 were shown to be viable. Following discussions with the client over delivery, these options will be carried forward into Council discussions over the regeneration of this site and the wider town-centre area.

In the course of the project, we helped to identify occupier interest for a potential leisure scheme, anchored by a cinema and also involving restaurant (A3) use. Should the scheme be brought forward, we have identified requirements from a number of national restaurant chains, and national cinema operators. 

 

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