Coplan, a developer that specialises in mixed-use schemes in the southeast, has reached agreement with Woking Borough Council for its proposed Woking Gateway development project.
The council selected Coplan as its development partner for the scheme in December 2017.
The indicative submission from Coplan is for a scheme comprising approximately 475 apartments across the three tower blocks, 39 storeys high, sitting above 47,500 sq ft of new commercial space. Details are liable to change during the planning process, however.
Assuming planning permission is secured, construction could start in 2021.
The new development depends on Coplan buying up existing properties on the site but it has received assurances that the council will consider using its compulsory purchase powers, if necessary, to assist Coplan in achieving possession of the Woking Gateway site.
Woking Borough Council leader David Bittleston said: “I am delighted that we have formalised plans for the growth and evolution of Woking, complementing our Victoria Square development and positively impacting the local economy. Coplan’s expertise and experience in the successful delivery of similar schemes for local authorities is exciting news. We look forward to working with them as we re-energise and reinvigorate the area.”
Coplan managing director Nick Doyle said: “We are hugely excited to be selected as Woking Council’s development partner on this Gateway project. As specialist mixed use developers for local authority partnership schemes, we understand the requirement of councils and needs of communities, working hard to ensure that our schemes are beneficial to everyone.”
Meanwhile the Victoria Square development in Woking town centre is on track for phased completion in 2020. Sir Robert McAlpine is spearheading the £460m transformation, which is a joint venture between Woking Borough Council and shopping centre owner Moyallen Group. This also involves construction of three tower blocks.
At 34 and 32 storeys high, two residential towers will have more than 400 flats for the private rental sector. A 23-storey third tower will house a Hilton hotel.