A development agreement towards delivering the multi-million pound Waterside Shopping proposal has been signed by Warner Estate Holdings plc and Aylesbury Vale District Council.

An important milestone for the retail regeneration project, the formal development agreement provides a comprehensive legal and financial framework under which Warner Estate, in partnership with Aylesbury Vale District Council, will deliver the town centre scheme. This follows the announcement earlier this year that Debenhams is the confirmed department store anchor for the retail element of the scheme.

Dan Howson, Senior Development Manager at Warner Estate commented: "The formal signing is the culmination of much hard work by Warner Estate and the Council and demonstrates the continuing commitment of both to bringing about this exciting mixed-use regeneration project. As we continue to progress our plans in earnest, we are pleased that another major piece of the jigsaw puzzle is now in place."

Councillor John Cartwright, Leader of Aylesbury Vale District Council, added: "The development agreement is the cornerstone of the Waterside retail development and we're delighted to have reached this stage. With the theatre construction now well on its way and the new car park opening in Walton Street on September 1, we can now see the beginning of our dreams for the redevelopment of Aylesbury come true."

Waterside Shopping will significantly enhance Aylesbury's retail offer with the introduction of around 30 shops and a food store as well as new restaurants and cafes. Included within the proposal is an attractive new public space in front of the theatre that will help rejuvenate the south side of Exchange Street as well as new homes around the canal basin.

Following the signing of the development agreement, Warner Estate is now progressing its proposals in advance of submitting a planning application in the coming months.

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