‘Green shoots of investment’ in town amid plan to bring to life vacant buildings

There are green shoots of investment in a Nottinghamshire town that is planning an attempt to bring more vacant buildings back into use.

Newark is currently being transformed, with a wide range of schemes aimed at injecting life back into the town centre.

These include the Castle Gatehouse project, the apartments and retail development at Stodman Street, and the regeneration of the market place.

Newark’s vacancy rate is currently above the national average, standing at a touch above 12 per cent – a rise from the 9.54 per cent recorded in 2023.

However, leaders say they believe there are now “green shoots of investment” owing to the town’s ongoing revitalisation.

British book retailer Waterstones recently moved into a building in the town centre, while an art school is soon to open in a former café in the market place, next to Toni and Guy.

Matt Lamb, director of planning and growth at Newark and Sherwood District Council, told the Local Democracy Reporting Service: “Our catalyst interventions are beginning to work.”

He said a new report would go before the Newark Town Board in November, which details fresh plans to get even more vacant buildings used to their fullest potential.

This so-called “upper-floor incentivisation scheme” will help landlords with the risks associated with bringing back into use the upper floors of buildings across the town centre.

In total, £800,000 will be on the table.

Mr Lamb said the scheme will help landlords with abnormal costs associated with higher risk buildings, including those that are listed.

Such problems can include pigeon nests, he said.

“If you go into Newark town centre in the evening and you look up you don’t see many lights on,” Mr Lamb said, speaking from the market place.

“It is a relatively modest pot of money of £800,000 and what that will do in really simple terms is allow us to work up schemes with landowners, to properly cost them, and give them a grant – incentivising them to actually build upper floor units, residential apartments, that effectively helps them with their risk.”

The regeneration of the market place has also been approved, after previous plans had proven controversial to some and overly-costly to the council.

Resurfacing works to remove the cobbles and the introduction of trees, planting and seating areas, have all now been scrapped.

Instead, the plans will focus on putting electrical connections for the market underground, as well as new lighting and market stalls.

Mr Lamb: “The market place is currently owned by the district council but it is on a long lease to Newark Town Council.

“We’ve been working closely with them as partners to be able to pull some plans together. Sadly the original proposals, which have been out to consultation, and no longer within the cost envelope that can be afforded, so some of that has actually been scaled-back.

“But what we were really clear on with the town council partners was that we still need a space that will be flexible that can have markets on it, events on it, and be used for a whole range of different issues.

“It will improve the vibrancy for the centre as a whole.”

Councillor Paul Peacock, the leader of the district council, added: “We’ve spent a lot of time talking to the public about what they want, and what they want is a decent, flexible space where they feel safe and I think the changes will do that.

“Hopefully that will bring more people in who will come over to the market place, enjoy their time here, dwell a bit longer, and spend a bit more money in the shops.

“The road needs addressing anyway and that is the responsibility of Nottinghamshire County Council, of course. That may come in time.”

The council anticipates work will begin between January and March next year, with completion before the Christmas period.