The demolition of a former shopping centre: What's the impact on CRE in Norwich?

Norwich City Council has secured almost £34m of government funding to acquire Anglia Square, an ageing, former shopping centre on a brownfield site - to be repurposed for new homes, commercial and retail space. What does this mean for the city's Commercial sector? 

The Anglia Square scheme, previously scrapped because it was deemed financially unviable, is set to offer up to 1,100 new homes, a variety of retail, office, leisure spaces and landscaped gardens.

It follows a growing trend of local authorities purchasing sites such as old, disused shopping centres to utilise them with allotted funds (and not the public’s money from council tax etc) to help address the UK’s housing crisis whilst regenerating areas of decline too.

New, purpose-built commercial space with good transport links in and out of the city in a mixed business/residential setting is highly sought after.

Employers can recruit staff more easily than out of town or city industrial parks with the added benefit that the buildings meet all the new environmental impact standards and design elements required. 

The outside spaces will be landscaped with seating and made accessible with wide pavements and paths.

Retail and office spaces will be situated alongside new homes creating a new urban hub to attract business tenants – ideal for owners of restaurants, coffee shops, gyms, hair salons, barbers and dry cleaners.

The council has indicated that existing independent traders will be temporarily relocated to a new ‘box park’ food and retail centre underneath the flyover close to the entrance to Anglia Square.

They are also working on plans for affordable retail and business spaces in the main development. We will have to wait and see if this is the case.  

Will it impact sites elsewhere in the city? We don’t think so because Norwich has always proven to be a robust retail centre. Anglia Square should complement this - attracting new commercial and retail businesses endorsing the city as a whole.

This scheme has got to be good news for Norwich - we watch with interest.

Andrew Haigh, Commercial Surveyor, can be contacted at Brown&Co in Norwich on 01603 629871.

Eastern Daily Press article