A new £150m redevelopment in the centre of Newcastle promises to boost retail in the North East.
Capital Shopping Centres unveiled plans for Eldon Square, which will provide 480,000 sq ft of shops, including a department store and a mall.
The scheme is being developed with Newcastle council, which owns 40%, and Shell Pensions Trust, which owns 30%. CSC own the remaining 30% of the scheme and is project-managing the redevelopment.
No anchor has yet been announced, but Selfridges, Debenhams, House of Fraser and Allders are all known to have requirements for the city.
The developers aim to submit a full planning application later this year and to begin construction in spring 2005, with completion due between 2006 and 2009.Also, Chelsfield has appointed Terry Farrell and BDP to draw up plans for a 1m sq ft retail-led regeneration project on a nine-acre site spanning Pilgrim Street.
Further east in Byker, developer Thornfield Properties has commenced work on its 200,000 sq ft Newcastle Shopping Park, which is due to open next summer. Woolworths’ Big W and JJB Sports have taken space.
A retail park is being developed in Newcastle at Kingston Park. Construction is well under way at this Chinacorp/Henderson 50,000 sq ft scheme and the park will open later this year.
Units have been let to Currys and PC World.
South of the Tyne, CSC’s Red Mall will open in MetroCentre, Gateshead, in October 2004. When complete, the centre will provide almost 2m sq ft of retail and leisure accommodation.
Also in Gateshead, outline planning permission for Trinity Square was granted in November 2000. For the permission to remain live, a full application must be submitted within three years.
The centre is owned by Mars Pension Trustees and asset managed by LaSalle Investment Management.
In Peterlee, Modus Properties will start work on East Durham Retail Park in October, with the 70,000 sq ft retail park opening in May 2005.
The developer has also begun work on its 55,000 sq ft Park View Shopping Centre in Whitley Bay. Iceland, Peacocks and Marks & Spencer have taken prelets.
In Seaham, Modus is to develop the 145,000 sq ft Byron Place shopping centre.
Ashley Smith and Petch Hall are marketing Durham City Retail Park. The project will comprise almost 200,000 sq ft of retail accommodation.
The information supplied comes from EGi’s retail database which covers 70 purpose-built schemes in the North East. For more information contact sue.medd@rbi.co.uk
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Retail requirements (10,000 sq ft +) |
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Selfridges is looking to branch out in Newcastle upon Tyne |
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Town requirements |
Company name |
Retail business sub type |
Min size (sq ft) |
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4 NE requirements |
Matalan |
Homewares/general |
29,999 |
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8 NE requirements |
Aldi |
General |
13,498 |
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Darlington/Durham |
Argos |
General |
10,000-12,000 |
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5 NE requirements |
TJ Hughes |
Discount/value retail |
35,005 |
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5 NE requirements |
Allders |
Department store |
70,000 |
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5 NE requirements |
Allders |
Home Homewares/general |
32,000-35,000 |
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Durham |
Tesco |
General |
59,999 |
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Durham |
TK Maxx |
Discount/value retail |
12,000 |
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Gateshead |
AUTOlink |
Vehicle sales |
10,000 |
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Hartlepool/Middlesbrough |
Sports Soccer |
Goods/equipment |
10,000 |
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Middlesbrough |
Tesco |
General |
59,999 |
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Newcastle upon Tyne |
Decathlon |
Goods/equipment |
20,000 |
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Newcastle upon Tyne |
Halfords |
Car accessories |
0.3 acre |
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Newcastle upon Tyne |
House of Fraser |
Department store |
99,998 |
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Newcastle upon Tyne |
Miller Brothers |
Electrical/electronic chain |
7,500 |
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Newcastle upon Tyne |
Selfridges |
Department store |
149,996 |
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Source: EGi |
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