Property companies keen to join up to emulate Birmingham’s success
Lisa Pilkington
Hammerson and Stannifer are leading an alliance to redevelop 1.25m sq ft on the eastern side of Leeds city centre.
The two companies are talking to landowners, including Leeds-based Town Centre Securities and Leeds council, about forming a consortium.
The talks are aimed atkickstarting a £400m retail-led regeneration in an operation similar to that of the Birmingham Alliance.
Both John Lewis and Selfridges are potential anchors for the development.
John Bywater, managing director at Hammerson, said: “This is very exciting. We’re keen to get involved. This type of development is what we’re known for. As we’ve seen in Birmingham, a joined-up approach does seem sensible.”
Stannifer has already secured financial backing from an unknown US source. John Shaw, managing director at Stannifer, said: “This is a huge investment for us. It’s a unique opportunity and one we’ll run with if we can get a consortium in place.”
The 20-acre area – bounded by Templar Street, Kirkgate, New York Street and Vicar Lane – includes the redevelopment of the controversial Kirkgate Market site.
Around 750,000 sq ft of the 1.25m sq ft planned will retail. Alongside that will be 1,000 residential units, a hotel and a transport hub, accommodating the Super Tram link.
Leeds council owns Kirkgate Market and the Harewood Quarter site, while TCS has consent to build 260,000 sq ft opposite the market. Hammerson owns Eastgate House, a strategic site that adjoins the Headrow.
The company is believed to have been considering a retail scheme near Vicar Lane and the NCP car park for some time.
A council spokesman said: “We’re looking at the area as a whole and feel strongly that we want to see primarily retail.”
US architect Altoon & Porter – which is designing big redevelopments in Singapore and Melbourne, Australia – is drafting a masterplan for the area.
Redevelopment of the outdoor market has been contentious. But it is in decline, and traders fear its future will be jeopardised if redevelopment does not go ahead.
|
Leeds east redevelopment |
|
The 20-acre, £400m scheme would embrace the controversial Kirkgate Market |
