Prof. Bichard was invited to assess the SuROI potential of the Spirit of Sittingbourne development as a part of a portfolio review for Cathedral Group.
For each £1 of value invested in the Town by the Partnership, £6.20 is returned to the local economy.
This project intended to regenerate the centre of a Kent town that had suffered chronic under-investment for a number of years. The scheme offered to provide a new public realm, new retail and leisure attractions, and more town centre living units. It was a joint venture between Cathedral Group Ltd, Swale Borough Council, Quinn Estates and Essential Land.
The sustainable value created by The Spirit of Sittingbourne is 1: 6.2 indicating that for each £1 of value invested in the Town by the Partnership, £6.20 is returned to the local economy. This value was mostly created from wellbeing benefits (57%), followed by employment benefits (31%). The redevelopment of the town centre had the intention of improving many of these aspects through better design safety standards, improved public lighting and pedestrian circulation, higher energy conservation in new build housing and the creation of jobs and apprenticeships, among other development designs.
