The Financial Times reports on the battle for the shopper’smoney at Birmingham where Hammerson and Land Securities are planningretail schemes of 111,480 sq m (1.2m sq ft) each within 100 years ofeach other.
Both schemes are fighting to secure tenants but are having toovercome transport and parking difficulties. The decision of John LewisPartnerships to open their new Midlands store in Solihull reflects theseconcerns.
The developers have not broken ground at present: they only haveoutline planning consent. Research by property consultant Grimleys forthe city council backs the general view that both projects will be asuccess in the longer term.
- Financial Times 22/05/98 page 9 (The Property Market)
