Page 8 - Redditch New Town Centre Success or Failure

Redditch Heritage Redditch New Town, Success or Failure?

A Commercial Success?

The vagaries of interest rates have inevitably played havoc with the viability of
the town in financial terms, though in the early 1970s it was likely that break-even
was to be achieved in 1981. The disposal of assets, not always at the most

propitious time, together with the high interest rates of the late '70s and '80s,
have resulted in a less balanced financial position than would have been hoped.

The Corporation takes pride in having made great strides in promoting private
housing, the epitome of the open market. There are 6,833 completed dwellings
and 550 further dwellings committed on Corporation land. Such a great number

of families and developers investing their own capital in the town demonstrates
the success and confidence in the town which has been achieved. This commer-
cial success is due much to the policy of diversification. Not only have sites been
made available from the humblest to the most expensive housing but sites of
different character, for example within a golf course, or as a separate village,
and of different density, have been promoted.

To achieve this pyramid of housing has also necessitated the making available
of land to the widest possible range of developer types, including the Borough
Council, Housing Associations, shared ownership schemes, architect/developer
competitions and self build plots. One consistent theme has applied to all sites
and that is that the individual sites should be small, generally not exceeding 100
dwellings, and encompassed by the existing field pattern. In addition to achiev-
ing a total overall programme of 50% housing for sale and 50% for rent existing
tenants have purchased approximately 15% of the rented stock. The success in

housing provision is indicated by the high proportion over the period, ranging
from 20% to 44%, of those leaving the rented housing to buy a house, and for
those moving to another house in Redditch (21%-38%).

The employment sector also demonstrates the economic and commercial sense
of the Corporation's policy on diversification. the annual survey of all firms in

Redditch has provided a mine of information for the employment programmes.
The years have seen a very drastic decline in the major metal based industries of
the town, including within the traditional needle and spring making firms. It has
seemed at times that the Corporation has had to run hard merely to find the
employment programme stand still. The basic policy on diversification within
industrial firms has been further developed with the principle of promoting the

town for small and medium sized firms. The 1,500 firms in the new town average
only 17 employees each, a factor which should ensure a relatively stable local
economy whilst providing the widest job opportunities for residents. Most importantly
the Corporation's role as a caring and flexible landlord has reaped benefits for
firms in the town.

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