John Lewis confirmed today that it will anchor Hammerson and Town Centre Securities’ Eastgate and Harewood Quarter scheme in Leeds.
The 260,000 sq ft department store, which will open in autumn 2010, will fill a major regional gap in the retailer’s UK coverage.
The Leeds store forms part of its plans to open 10 shops in new locations from 2007 onwards.
In addition to the department store, the 1m sq ft retail-led scheme will also include 500 flats, 2,500 parking spaces, leisure facilities and a new public space.
A planning application will be submitted before the end of the year.
John Bywater, managing director UK of Hammerson said: “We have been working closely with Leeds council to bring forward this development, which we believe will bring a vibrant new element to Leeds city centre.”
The Harewood and Eastgate quarter will extend Leeds’ retail district eastwards and has been welcomed by retailers, who have struggled to find space in central Leeds recently.
Retail rents in the city were pushed to a new high last year when O2 signed for a unit at 50 Briggate at £300 per sq ft.
There are around 250 live requirements in the city, but with so little space available there have been few deals since O2 to test what the market will bear.
References: EGi News 26/04/05
