Page 7 - Redditch New Town Centre Success or Failure
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Redditch New Town, Success or Failure? Redditch Heritage
Projects Of Innovation
Perhaps one of the greatest contributions that Redditch has made to physical
planning is the emphasis given to the land use distribution specifically organised
around public transport. The exclusive bus routes and related innovations have
been a great success in the new neighbourhoods, and provide not only an
excellent service, but also a profitable one. Thanks are due in part to the
open-minded approach of the Midland Red Bus Company, but it was only
through the Corporation's determination that such an experiment could be
ventured.
In the financial sphere and very early in the development programme, new
ground was broken for New Towns in pioneering the concept of lease-leaseback
funding. By this means the Corporation has enabled public design and manage-
ment to hold partnership with private financing. The Kingfisher Shopping Centre
in the town centre has shown how excellent and extensive projects can be carried
out by limited inputs of public expenditure.
The Corporation has been an active proponent of land disposal to private
developers by the means of licences to build on Development Corporation land,
rather than on the more common practice of freehold disposal. This enables
greater control over the type and character of development, over the phasing
and over subsequent changes to proposals, but it also assists developers of
private housing in terms of cash flow.
Perhaps of greatest significance in winding up the new town has been the
assembly of a marketable package of all the remaining Corporation assets. The
Corporation was encouraged by the reaction of the "market" and the number of
bids received.
The innovation of this approach to disengagement attracted the interest of both
the national and international press. Having pursued the deal with two firm
bidders, the Corporation was naturally disappointed not to ultimately receive
Government approval to the sale.
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