NEXT week Stroud District Council members will discuss plans to make a £2million loan to a company hoping to rejuvenate a shopping centre in Stroud town centre.

A report included in the agenda for the full council meeting at Ebley Mill on February 22, outlines a proposal that will see SDC investing the money in a ‘key property development’ in Stroud town centre.

The cash boost to ‘Stroud Regeneration Ltd’, set up by a Sheffield developer, will hopefully enable the purchase and revamp Merrywalks shopping centre.

Dransfield Properties will form the subsidiary Stroud Regeneration Ltd as part of the company’s planned £10million refurbishment of the shopping centre.

Stroud News and Journal:

Council members will discuss a proposal to support the regeneration with a £2million commercial loan

Speaking of the proposed plans Cllr Nigel Cooper, SDC Conservative leader, said: “Merrywalks shopping centre is very tired and desperately in need of investment.

“Council is being asked to make a secured loan of £2m at commercial rates to a company with an impressive track record and experienced in regenerating run down retail sites.

“I applaud the hard work of SDC chief executive David and the officers at SDC in attracting such inward investment,” he said.

A South Yorkshire-based company founded 25 years ago, Dransfield Properties works primarily in town centres and has won a number of national awards.

Stroud News and Journal:

Stroud Regeneration Ltd would invest £10million in the regeneration of the shopping centre

Speaking last year when plans were first revealed plans to ‘turn around’ Merrywalks, Amanda Holmes, from Dransfield, said: “We were approached to look at Merrywalks in Stroud.

We believe this is a town centre development which can be turned around and regenerated with some high quality architecture and a new retail offer attracting companies not currently represented in the town centre,” she explained.

Kevin Cranston, Mayor of Stroud, welcomed the news: “We very much hope that this investment in Merrywalks goes ahead as it will be great news for Stroud and all who visit the Town Centre.

“We welcome inward investment into the town and look forward to hearing about improvements to Merrywalks, which is in need of a makeover,” he said.

As part of the report which will be discussed next week the district council has highlighted the concerns that they have had about the shopping centre’s deteriorating condition, poor management and lack of investment.

Stroud News and Journal:

The report outlines concerns about the current condition and management of the retail centre

Members of the public are encouraged to watch the ‘detailed discussions’ online via the council webcast to ensure that they are aware of the plans for the retail space.

Cllr Martin Whiteside, SDC Green leader said: "It is important that the district council does whatever it can to support our high streets, and this includes encouraging new investment in Merrywalks.

“However, we need to be sure that any taxpayers money we lend to achieve this is safe, and does not undermine the distinctive character of Stroud, with its independent shops and wonderful markets.

“This will be the subject of detailed discussions next week at our council meeting which is open to the public and can be watched on the webcast,” he said.

Full report can be found on the council website stroud.gov.uk