A key partnership to regenerate the Greyfriars area of Northampton Town Centre has been strengthened further with a new Development Management Services Agreement (DMSA).
West Northamptonshire Council has entered into the DMSA with ECF – a joint venture between Homes England, Legal & General and Muse – the latest step to accelerate the work and setting expectations that a formal Development Agreement will be signed by Summer 2025.
ECF has already been working with the Council to explore and shape planning, delivery, and funding for Greyfriars. The DMSA enables ECF to develop more detailed strategies ahead of entering into a Development Agreement.
The Greyfriars regeneration area totals 25 acres and includes the former Greyfriars Bus Station, which was demolished in 2015, as well as the Mayorhold and Victoria Street Car Parks, Corn Exchange, Belgrave House, and East and West Islands.
The vision, which has been developed by West Northamptonshire Council, seeks to re-imagine several derelict buildings with exciting new uses.
The Corn Exchange will form an arts and culture hub, whilst Belgrave House provides opportunities for an innovative workplace and business incubator. The regeneration will also include a new outdoor Amphitheatre to anchor landmark new public spaces.
New homes will support a vibrant new neighbourhood, alongside shops, cafes, and restaurants as part of a dynamic new place.
New residents and visitors are expected to spend an additional £21m in Northampton which will help drive the economy of the entire town centre. As many as 7,000 full time equivalent jobs could be created during construction, generating a further £1 billion in economic value.
Cllr Dan Lister, Cabinet Member for Local Economy, Culture and Leisure at West Northamptonshire Council, said: “It is great news that we’re able to enter this Development Management Services Agreement with ECF, marking a significant step forward in the regeneration of Greyfriars.
“This partnership underscores our commitment to transforming Northampton Town Centre into a vibrant, dynamic space that will benefit residents, businesses, and visitors.
“The vision we have for Greyfriars is ambitious and transformative, and with ECF’s expertise, we are confident in delivering a project that will drive economic growth, create jobs, and enhance the cultural offering for community.
“We look forward to seeing the positive impact this regeneration will have on Northampton and sharing more exciting developments with the community as we progress.”
Maggie Grogan, Managing Director – Midlands at ECF, said: “Since announcing our partnership with West Northamptonshire Council, we’ve been working closely and collaboratively to explore potential delivery solutions for Greyfriars.
“We see clearly the opportunity Greyfriars presents and have made real progress. Entering a DMSA will accelerate our work and further strengthens our approach. We expect 2025 to be an exciting year and look forward to sharing more with the community in due course.”
