Plans to invest £7.5m in one of Swindon’s most prominent office blocks is a vote of confidence in the town, according to the leader of Swindon Borough Council.
Cllr David Renard says FI Real Estate Management’s (FIREM) decision to spend millions refurbishing 1 Newbridge Square on the corner of Milford Street and Fleming Way is a significant boost to the town centre and the wider economy.
Work is set to start next month on refitting the former Zurich Insurance building into a modern contemporary office and retail space.
Features will include fitness and gym facilities, bicycle and scooter provision, EV charging points, retail units and a business lounge. The buildings will also target EPC A, BREEAM ‘Excellent’ and Net Zero Carbon ratings.
Parking provision has also been provided through an agreement with Swindon Borough Council.
Cllr David Renard, leader of Swindon Borough Council, said: “FI Real Estate Management’s announcement is a real show of faith in Swindon and the future of the town centre in particular.
“We have known about FIREM’s plans for some time and have been working with them behind the scenes to bring this scheme forward by identifying suitable parking provision for the workers who will ultimately use the new offices and retail space.
“It is really pleasing to see private investment in the area coming forward and proving that the work that is taking place at Fleming Way and the surrounding Kimmerfields site is acting as a catalyst for further regeneration by increasing land values and making Swindon an attractive proposition for investors.
“I am sure this ripple effect will continue to help attract further commercial investment in new homes, shops and amenities in the wider town centre.”
Dominic Knowles, head of offices at FI Estate Management, said: “It’s really exciting to be part of this transformation of Swindon that the Council is leading – it really feels like the whole scheme has momentum.
“We believe the Council’s investment and drive will be a real catalyst for future private investment.”
Image source: Swindon Borough Council
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