Bedford’s town centre could be set for a “best decade” of growth, with millions more visitors and hundreds of millions of pounds in additional spending forecast for the area, according to new research commissioned by the owners of the Harpur Centre.
Tellon Capital, which owns the shopping centre, said the report suggests Bedford is well placed to benefit from a wave of major projects and investment nearby.
This includes the proposed expansion of London Luton Airport, planning consent for Universal Studios, the East West Rail project and confirmation of more than 20,000 new homes by 2036.
Consistent footfall
The research highlights what it describes as strong fundamentals in Bedford, including higher retail spend, more family households and a better-qualified population than the national average.
It also points to the Harpur Centre’s role in the town centre, saying it already attracts more than five million visitors each year and that investment approaching £10m in recent years has helped to support footfall
In fact, it states that footfall to The Harpur Centre over the last three years has remained consistently strong at approximately 5.5 million a year, despite “economic uncertainty and a cost-of-living crisis”.
James Burchell, on behalf of Tellon Capital, said: “A combination of Universal Studios, East West Rail, the expansion of London Luton Airport, alongside thousands of new homes, will bring about exponential growth.
Our research shows there will be millions of additional visitors to the area and over £600 million in increased spending. Bedford is set to leap up the Retail Rankings, and we’re delighted to be at the heart of the regeneration.”
Potential growth
Laura Church, chief executive of Bedford Borough Council, added, “Bedford is on an upward trajectory, with new businesses of all stripes keen to come here and invest.
“Our town’s identity has been shaped over the course of almost a millennium to offer a mix of our famous markets, independent boutiques and high street brands.
“The arrival of Universal, the expansion of Luton Airport, and the investment and commitment of the Harpur Centre, illustrate how our town, our borough and our county never stand still.”
The research links Bedford’s potential growth to several factors, including:
- The proposed expansion of London Luton Airport, which the report says could bring an additional 14 million visitors to the sub-region
- Planning consent granted for Universal Studios
- Confirmation of more than 20,000 new homes by 2036
It argues the combined impact would mean more people living in and travelling through the area, with Bedford town centre in a position to capture higher footfall and spending.
Cllr Andrea Spice (Conservative, Wixams), portfolio holder for economic growth, planning and prosperity, also acknowledged the important role locations like the Harpur Centre and the businesses inside play in Bedford’s economy.
“Our vision for Bedford is for it to create a town that people are proud to live in and excited to visit,” she said.
“This gives us an opportunity to look forward to an exciting future with great prospects, such as universal destinations and experiences, but also investors, businesses and shops that are showing a growing interest in our town.
“But, it’s not all new and modern, Bedford has a wealth of history, is located on a beautiful river and is proud to have a diverse, harmonious community.
“We are very grateful for the Harpur Centre for all they have done to help enhance the prosperity and growth, both present and future.”
Independence and assumptions
While the report is presented as economic research, it is not an independently commissioned public report in the usual sense.
It was commissioned by Tellon Capital, the owners of the Harpur Centre, and is framed around Bedford’s attractiveness and prospects at a time when shopping centres and town centres across the UK are under pressure.
That does not mean the conclusions are wrong, but it does mean readers should understand the research’s purpose and the commercial context in which it was produced.
There are also clear assumptions in the report’s projections, particularly about how future visitor numbers translate into spending and how much of that spending is likely to be captured in Bedford.
The report paints a confident picture of Bedford’s future, but some of its headline claims are likely to prompt closer scrutiny.
The description of the coming years as the town’s “best decade since 1166” raises questions about how that comparison was defined and measured, and which benchmarks were used.
Wider questions
There are also wider questions about the scale and distribution of the forecast growth.
The report refers to more than £600 million in additional spending and millions of extra visitors, but it is not immediately clear how much of that would be captured within Bedford town centre itself, rather than across the wider sub-region.
As with any forward-looking projections, the figures will also depend on the timing and delivery of major schemes such as airport expansion, new housing, Universal Studios UK, and other large developments.
The report’s publication comes as Bedford remains mentioned as part of a wider growth corridor, with major national infrastructure and development proposals likely to shape the town and Borough’s future.
Either way, Tellon Capital has renewed its commitment to Bedford and said the Harpur Centre intends to remain central to the town centre’s next phase, with investment already made in recent years and further confidence in Bedford’s direction of travel
