THE redevelopment of the Maltings and Central Car Park may have just taken a massive leap forward after council chiefs agreed to release funding towards taking ownership of the proposed site.

Approved by Wiltshire Council’s cabinet earlier today, the move will now need to be signed off by Full Council next month before talks can be entered into with landowners.

This would allow the authority to either buy or rent parts of the land, as well as buildings, on the site.

Council leader Philip Whitehead told members at the meeting that releasing the funds for the Salisbury scheme would allow the council to “take ownership of the complete [Maltings] area”, adding: “This will significantly improve the deliverability of this proposal.”

Salisbury Journal:

A council statement said that this investment “will help Wiltshire Council realise its ambitious regeneration plans for the city”.

The proposed amount of cash to be released has not been disclosed, and was discussed by councillors in a closed meeting.

As reported, the site will also benefit from £6.1 million of government Local Growth Funding, set aside by Swindon and Wiltshire Local Enterprise Partnership (SWLEP).

It comes after the authority approved the first phase of the Maltings redevelopment last month, 86-room hotel, library and gym on the site of the former British Heart Foundation store in Fisherton Street.

Salisbury Journal:

The second phase, which a plan has not yet been developed for, involves the redevelopment of Market Walk. This, the council says, will “provide a high-quality commercial link” between the Market Place and the Cultural Quarter.

Speaking after today’s meeting, Pauline Church, the authority’s south Wiltshire recovery chief said: “The Maltings regeneration area is a complex and challenging programme that has the potential to deliver a significant and exciting step-change to the experience of the city.

“This will benefit residents and visitors alike and provide important improvements to the city’s housing, commercial and cultural offer. Cabinet’s decision today is a step forward to achieving this.

“The possibility of acquiring third party interests could help unlock the redevelopment of Market Walk and the wider Maltings area helping Salisbury to prosper over the coming years.”

The funding will now need to be approved by Full Council on November 26.