LXB Retail Properties has obtained a resolution to grant planning permission for its Metz Way retail and mixed-use development in Gloucester.
Members at Gloucester city council have unanimously supported the plans, which comprise a 70,000 sq ft supermarket prelet to Morrisons, 140,000 sq ft of office space, an 11,000 sq ft car showroom and 8,000 sq ft of restaurants.
The resolution to grant is subject to the usual planning and construction conditions and the signing of a Section 106 agreement.
This follows LXB’s announcement on 1 August that it had exchanged contracts on a subject to planning basis to acquire the Metz Way development site for £6.1m, and had signed an agreement with Morrisons to take a 25-year lease.
It is expected that construction will start on site on the Morrisons element of the scheme in spring 2012.
Metz Way comprises a vacant 18-acre site close to the city centre, and forms part of a wider regeneration programme known as the Railway Triangle Corridor that is being promoted by Gloucester Heritage Urban Regeneration Council.
Tim Walton, chief executive at LXB Retail Properties, said: “We are in discussion with a number of occupiers and we are encouraged by the level of interest so far. It is anticipated that the first phase will be completed by the third quarter of 2013.
“LXB has a number of applications pending elsewhere around the UK and I expect further positive news on planning in the months ahead.”
james.buckley@estatesgazette.com
