Plans to re-develop the north side of Talisman square include the construction of 102 student apartments after details of the initial plans were released by developers.
The apartments will be situated above four ground-floor shops which will take up 15,000 sq ft of space if the plans, which will be put forward by Cobalt Estates and Discovery Properties, are eventually approved.
The development is planned to be similar to what already exists in Sexton House on the south side of the square, and an artist’s impression of what the development would look like from Station Road and from Warwick Road has been included in the plans.
Hugo Hawkings, chief executive of Discovery Properties, said: “It has been our desire for some time to complete the re-development of the centre and this project would involve an investment in the region of £10 million.
“We believe bringing further national and local retailers to Talisman would substantially enhance the town’s retail offering.
“The student accommodation would also provide a further boost to the area’s economy and bring positive benefits for our existing tenants as well as other shopkeepers, restaurants and businesses in the town centre.
Given this a town centre location all amenities are within walking distance and consequently parking is not usually required.Hugo Hawkings
“The student apartments which have been in place on the south side of the scheme since 2012 have worked extremely well and contributed to the £20 million a year the University of Warwick already brings in to Kenilworth.”
“We’re excited to now be in a position to reveal further details about our plans and to continue our heavy investment in Talisman.”
The plans do not include provisions for car parking, but will provide space for bicycles.
Mr Hawkings added: “Given this a town centre location all amenities are within walking distance and consequently parking is not usually required.
“There are excellent public transport and cycle links from the town to the university which is just under three miles away, and we will be including ample provision for bicycles in our plans.”
Plans to develop the north side of the square were scrapped in 2008 after the recession meant retailers were reluctant to open new shops in the square.
The developers decided to build a temporary car park instead which opened in 2013, and is set to be removed if the plans are given the go-ahead.
Mr Hawkings added: “In an ideal world we would have liked to have moved forward with these plans a few years ago, but the reality is it was not prudent to invest in speculative retail developments during a period of economic uncertainty.
“There’s no doubt the temporary car park has significantly improved the aesthetics of the centre since the demolition of the old units and has been very well used.”
Members of the public will have the chance to view and comment on the proposals during a day-long consultation on the first floor of Talisman House between 1pm and 8pm on Thursday October 22.
The consultation will allow the developers to fine-tune the plans before submitting their application in full to Warwick District Council.