Town saved from depth of despair. Developer steps in to rescue flailing project

Building work on the Walton town centre redevelopment could be under way by Christmas.
That is according to O&H Properties which this week stepped in to rescue to flailing project.
The property company, based in Chelsea, has exchanged contracts with developer Frogmore to buy the site earmarked for phase two of the town centre redevelopment.

This week O&H told the Guardian it would be making few changes to the original designs, which include 268 flats, 67 of which are affordable homes, a shopping mall, library and health and fitness centre.

Paul Nicholson, director of O&H Properties said “We are inheriting the existing plans. There will be no major changes but we will be addressing issues such as refuse and we will be tweaking plans slightly

He said work was likely to begin before Christmas with completion expected by 2005.
The news has delighted Walton’s traders and community leaders who have been growing increasingly frustrated at the town centre’s decline.

Walton central councillor Gordon Chubb said: “From a position of deep despair light has suddenly appeared on the horizon. O&H has outbid several larger organisations to get hold of the leases of all the land assembled by Frogmore to complete phase two.

If O&H show the same enthusiasm in making an early start on clearing buildings and debris littering the phase two site off New Zealand Avenue and other parts of the centre, this must be the best Christmas and New Year present the people of Walton and its embattled traders have received for many years.”

Peter Myson, Chairman of Walton Retail Guild, was cautiously optimistic about the deal.
He said “O&H has still not completed the deal with Frogmore. We are waiting until this is done until we start waving the flags.”

He said Walton town centre had plunged into decline and in the last few weeks three traders announced they were closing because of a slump in sales.
Phase one of the town centre redevelopment culminated in the opening of the Sainsbury’s store in 2000.

But phase two of the of the multi-million scheme has been beset by problems.
Barratt Homes, which was to be responsible for the residential side of the development, pulled out of the project in February, putting the whole scheme on hold.

Mr Nicholson revealed O&H had only expressed an interest in the project in the last few weeks.
He said “We heard about the Walton town centre redevelopment two days before we exchanged contracts with Frogmore.”

“They were in a contract of exclusivity with another company. But that came to an end and we made our move.”

O&H is creating a new town on the edge of Peterborough, which will include commercial, retail, residential and community buildings. The project is expected to run for thirty years. Frogmore was unavailable for comment.

Source: The Guardian

January start for work on the Centre?

Work on the new Walton town centre development could begin in January , developers O&H have announced.

On Wednesday, members of Elmbridge Borough Council. gave their support for the handover for the scheme from Frogmore to O&H, and, while officials at the Civic Centre have yet to give the final go ahead, it looks likely that the bulldozers will move in after Christmas.

After the behind-closed-doors meeting, Mike Lockwood, Chief Executive of Elmbridge Borough Council, said " The council was unanimous in its support, across all political spectrums, in welcoming the O&H Group.

O&H a privately owned group, has been trading for more than 20 years. Their portfolio includes the Sir Norman Foster Building , Waterside point near the Albert Bridge, and the Kings Road shopping centre Chelsea, as well as a new, 20,000 population town near Peterborough- still under construction. They also own the non-operational property interests in Hanson Plc.

"They have a track record in residential commercial developments and have their own contracted arm." Mr. Lockwood said. "We had a very positive initial meeting with them. They'll do the whole development and won't have to rely on anyone."

"This is a big step towards making Walton the town it should be. It's the start of the process and not the end."

Contracts have been exchanged between the two developers, and O&H will inform the council in more detail of the timescale of events later this month.

A spokesperson for O&H said the company was looking forwards to working on the project in partnership with the council, adding: "While it's still early days, our aim is to start on the site just after Christmas, with the aim of having all the retail units open by Christmas 2005."
Mr. Lockwood said he wanted to thank Walton's traders and residents for their patience, and said the council was working with county and borough councillors to see what can be done in the town over the Christmas period.

He said this is likely to include a donation towards Christmas lights, and also street signs.
Walton councillor Gordon Chubb said the emergence of O&H was the best Christmas present Walton had received in many years. "After months of disappointment, which has depressed traders and public in Walton, it appears that a white knight in the form of O&H properties of Chelsea has suddenly emerged to ride to the aid of the town," he said. "O&H have shown a degree of enthusiasm not experienced in recent times by out bidding other parties allegedly interested in buying the lease from Frogmore, who have failed to live up to their promises and have left the Phase Two site in a derelict state."

"From a position of deep despair light has suddenly appeared on the horizon."

Source: Walton and Hersham News and Mail