EEDA - East of England Development Agency

£1.5 million to ensure plans to rejuvenate town are fully realised

31 August 2006

A multi-million pound project to rejuvenate a Suffolk town centre is to be given a grant of £1.5 million by the East of England Development Agency (EEDA).

The funding was approved by EEDA this week and is vital to ensure the plans to redevelop the old Cattle Market site in Bury St Edmunds are fully realised.

EEDA's £1.5 million will help fund the creation of a new multi-purpose venue at the heart of the major mixed-use development and streetscape works, both of which are integral to the £105 million scheme.

The 5.4 hectare mixed use Cattle Market development seeks to revitalise Bury St Edmunds by providing new retail premises, homes, streetscapes and a multi-purpose venue. It will make a significant contribution to boosting the town's economic development, as a sub regional centre and regionally will aim to ensure a planned approach to sustainable growth.

Richard Ellis, chair of EEDA, said: "This fantastic development will have far reaching benefits to the residents of Bury St Edmunds and its wide rural hinterland, who have increasingly been going elsewhere for their shopping and entertainment. It will secure the future prosperity of the town by enhancing its business tourism, providing a much needed flexible venue for all ages, creating a focal point that will grow over the next 10-15 years and helping to provide economic stability for existing local businesses.

 "EEDA's investment in the venue and public realm works is essential to ensure that the development can go ahead as a vibrant mixed-use scheme. Furthermore it will help to unlock the potential of Bury St Edmunds as a sub regional centre and highlight the case for further investment in the town in future years."

The new venue will be a multi-functional public building that will be well equipped to host a wide variety of events including exhibitions, conferences, concerts, weddings, entertainment,

and community events. It will add to the town's tourism offer and help to generate activity in the town centre outside of normal shopping hours. The public realm works include new streetscapes with hard and soft landscaping, pick up points and signage, and are a key part of linking the new development to the existing town centre.

Cllr John Griffiths, St Edmundsbury Borough Council Leader, said: "It is excellent news that EEDA has recognised the importance of the Cattle Market redevelopment for the future of Bury St Edmunds and this part of East Anglia and indeed have endorsed it by offering such significant financial support. Their offer will enable us to do everything we wanted with the unique venue at the heart of this exciting development and to provide something which is not currently available in this area."

It is anticipated that the redevelopment, as a whole, will create 186 new jobs and attract an estimated 1million or more additional visitors to the town every year.

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