Loughborough town centre regeneration scheme expanded

Loughborough has secured Town Deal funding and £1.7 million will go towards the town centre project.

The Bedford Square Gateway Project is a scheme to regenerate part of the town centre.

Work on the project began earlier this year and the footpaths have been widened and granite paving has been laid on the streets.

Charnwood Borough Council has now announced that due to support from Loughborough Town Deal it will now also improve the south side of Bedford Square.

Councillor Jonathan Morgan, Leader of Charnwood Borough Council and co-chair of Loughborough Town Deal, said: “A significant part of the work has been completed and it is really starting to take shape. We are really pleased that we can add back in this phase of work to the project and without the Loughborough Town Deal funding, it would not have been possible."

This phase was in the original plans but it was put on hold until further funding could be secured. 

Loughborough has submitted a successful Town Investment Plan to the government and secured a Town Deal of up to £16.9 million.

Bedford Square is just one of 11 projects being supported by Loughborough Town Deal.

The additional funding will allow the council to pave around the Bedford Square South car park and businesses on the south side of the square and a new car park entrance will be created on the road which links Southfields Road and Woodgate.

The project is due to be completed in the spring of 2022 and it is planned to take place at the same time as the remaining work.

The total cost of the project is around £3.8 million. Charnwood Borough Council has contributed around £1.6 million, Loughborough Town Deal has committed £1.7 million, the Leicester and Leicestershire Enterprise Partnership has contributed £130,000 and a further £390,000 has come from a business rates retention scheme.