The Brightwells Regeneration scheme involves creating a new £40m retail and leisure hub, alongside 239 new apartments, 72 of which are 'affordable', clustered around a new town square in the centre of the town.
Features include a six-screen cinema, eight restaurants and a combination of 24 retail units including a new Marks and Spencer Simply Food. Refurbishment works will also be carried out to the adjoining Sainsbury's store and supporting car parking.
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Detailed planning permission for the scheme has been secured and enabling works will commence in the summer. The centre, which includes new basement and deck parking for shoppers and residents, is expected to open in late 2021. The first residential dwellings will be occupied in early 2020 and the development will be completed in total by spring 2022.
Council Leader Julia Potts said: "I am delighted that we now have an unconditional contract. The agreement means that our vision to deliver a scheme that will reinvigorate Farnham for residents, shoppers and visitors can now finally get underway.
"Although some pre-commencement works have already taken place, the next major step will be to begin work on the access bridge, which will minimise traffic disruption during the works. It is expected that work will start straight away."
Chris Tinker, Crest Nicholson's Group Board Director responsible for Major Projects and Strategic Partnerships, said: "We are delighted that the partnership arrangements with Waverley Borough Council and Surrey County Council are in place and we can now turn our attention to delivering this much needed addition to the heart of Farnham."
(LM/MH)
