Guildford council has confirmed Land Securities as its North Street development partner alongside the formation of a new town centre partnership.
The council’s evaluation panel recommended Land Securities following M&G Real Estate’s recent acquisition of the Friary shopping centre in the town centre.
The council said that Land Securities would work closely with it and M&G Real Estate following the recent formation of a landowners’ partnership agreement.
Guildford council will in due course publicise the areas of expertise needed for the project and invite expressions of interest from parties interested in participating in the group.
Councillor James Palmer, lead councillor for town centre planning and infrastructure, said: “Approval of Land Securities brings forward the most timely and effective programme with the right developer. We aim to move the North Street project forward at pace, integrating it with the rest of the town, and with Land Securities working closely with the council and its landowner partners.”
Jon Weymouth, development director for M&G Real Estate, added: “Guildford council’s decision to select Land Securities as its chosen developer partner is an exciting step forward for both the North Street site and the wider town. As the major landowner, M&G Real Estate is keen to ensure any future plans for Guildford’s retail provision will unlock the town’s considerable potential. We are eager to build a positive working relationship with both Land Securities and the council, as we continue to develop a landowner agreement with the latter.”
annabel.dixon@estatesgazette.com
