Issue details

To seek Executive approval of the Fareham Town Centre Regeneration Strategy 2025-2035 alongside approval of the proposed increase to the Revenue Base Budget and identified project budgets to support the long-term delivery of the Strategy.

To seek Executive approval of the proposed Stage one Masterplanning work and the associated capital budget.

The Council has a strong ambition to reverse the decline of Fareham Town Centre through regeneration, recognising the wider placemaking, economic regeneration and health benefits a more successful town centre would bring.

Fareham’s town centre has a key role in supporting the economy of the Borough.  It is the highest-ranking destination in the Council’s retail hierarchy and as such, provides the main location for retail, leisure, entertainment and cultural activities for the Borough’s residents.

Work has already begun to deliver the Council’s significant regeneration ambition with the construction of Fareham Live, the demolition and replacement of Osborn Road multi storey car park, the purchase of Birks Building (also known as Foresters Hall) for housing development, alongside the purchase of Fareham Shopping Centre in September 2023.

The Council appointed an asset manager to manage the Shopping Centre, alongside regeneration consultants to support the development of a deliverable and realistic Regeneration Strategy.  Stage 1 and 2 of this work was reported to the Executive in January and March of 2024 respectively.

Stage 3 of this work has now been completed after a further round of detailed analysis and consideration.  This is provided at Appendix A ‘Fareham Town Centre Regeneration Strategy: Analysis and opportunity Assessment’.

This work has informed the development of the Fareham Town Centre Regeneration Strategy 2025-2035, which also considers the Council’s Corporate Priorities resourcing requirements and the need for economic and residential growth in the town as reflected in the Fareham Local Plan 2037.

The ‘Fareham Town Centre Regeneration Strategy 2025-2035’ is provided at Appendix B to the report.