The cost of redeveloping Twickenham Riverside with new homes, public spaces and businesses has been put at a provisional figure of £11.2million.

Official papers say that the Council has managed to secure a number of grants that will bring down the cost to some £7.5m, which will be funded by borrowing.

To counter concerns about the costs, a report commissioned by the Council claims the scheme will deliver what is called a 'social value benefit' of £20.9m over a 30-year period and, potentially, much more.

Outside consultants – Project:00 – were asked to look at the economic and other benefits that the scheme will bring to the area, if it is given the go ahead.

They conclude: "The assessment of the social and additional value that can be delivered through the Twickenham Riverside development reveals that it has the potential to generate close to £20.9m in measurable local impact, as well as other non-quantifiable benefits."

Their report states some £6.49m of the figure can be considered real returns to the Council based on Business Rates and Council Tax and adds 'the rest is additional value based on economic, housing, social, environmental and health and well-being improvements'.

The scheme includes 45 new homes - of which 50per cent will be affordable.

There will also be shops, offices, a café and pub, as well as a new children's play area, pétanque courts, terraces lawns, an event space, tiered seating and other areas to sit and relax.

There are also plans for a new river activity zone with storage for smaller river craft - paddle boards and kayaks - and improved access to the river via a pontoon, however, the cost of this is not included in the published figures.

The consultant's report states the value created by the scheme is likely to be higher than the £20.9m figure, adding: "It is important to note that not all social value outputs are financially quantifiable and often the real impacts need to be viewed through a lens that goes beyond a simple cost versus benefit analysis.

"Therefore, it can rightfully be assumed that this project's social value exceeds the estimates mentioned above. These outcomes

are vast and will positively impact the local economy, contribute to the financial resilience of the council, deliver housing for those in need and support everyday life through social, environmental, health and well-being improvements.

"Through procurement, the project will be able to generate investment in the local economy, provide jobs for local people and targeted training and apprenticeships for some of the more vulnerable residents in the borough."

"The delivery of housing will have a clear benefit to the local area with 17 of the units being let to those most in need.

"Moreover, existing and future residents will benefit from improved social facilities such as play and recreational areas, and a diversified commercial offering such as a riverside pub/restaurant and a cafe.

"The environmental benefits support the Council's ambition for a greener borough which includes the opportunity to support wildlife and promote the natural resources in the area."

The cost of the scheme is likely to be at the heart of political battles ahead of the local elections next April with Conservatives in the borough critical of the costs and design.

At the same time, the redevelopment could be derailed after the Twickenham Riverside Trust, which owns a large section of the site – the Diamond Jubilee Gardens – announced a 'strong objection'.

The Council has offered to move the Gardens to a neighbouring, larger, area, however the Trust and its professional advisers have rejected the offer. Negotiations are on-going.