Update: Credit crunch halts town centre revamp

PUBLISHED: 17:04 02 May 2008 | UPDATED: 21:28 26 October 2009

Artist's impression of the £100m town square

Artist's impression of the £100m town square

WORK on a new town centre has been put on hold indefinitely.

The WHT can exclusively reveal that the regeneration of Hatfield town centre has been halted due to what developers have termed the current economic environment .

Borough council chiefs have co

WORK on a new town centre has been put on hold indefinitely.

The WHT can exclusively reveal that the regeneration of Hatfield town centre has been halted due to what developers have termed "the current economic environment".

Borough council chiefs have confirmed that no work will take place this year and are now unsure when work will start.

It was hoped that the £100m project was set to start by the end of 2008.

However, due to the unstable state of the finance, retail and property markets plans have ground to a halt.

Bob Jewell, chief resources officer for Welwyn Hatfield Council, said: "Welwyn Hatfield Council and [developers] St Modwen are still absolutely committed to the redevelopment of Hatfield town centre.

"The current economic conditions have inevitably impacted on the uptake of retail lets, but St Modwen are actively seeking appropriate retail outlets and buying up properties.

"We will be meeting with St Modwen in June as usual to discuss further progress of the project."

Rupert Wood, regional manager for St Modwen, was keen to stress that the developers were still keen to progress with the town centre regeneration.

Talking to the WHT today (Friday), he said: "Due to the economic climate and uncertainty particularly in the retail market it is unlikely we will start work in 2008.

"We would like to start work by 2009 but we cannot say at this time.

"We are committed to the town centre and have a long contractual binding agreement with the council.

"We're in constant contact with council officers and we are in constant interaction.


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