Land Securities and AMP Asset Management’s plans for a new £250m shopping centre in Birmingham signals the start of a battle to win London retailer Selfridges’ 18,580 sq m (200,000 sq ft) requirement for the West Midlands capital. The developers plan to replace the existing Martineau Square and Priory Square precincts with a 92,900 sq m (1m sq ft) scheme to be known as Martineau Galleries.
Land Securities’ retail portfolio director Keith Redshaw has confirmed that Selfridges had already expressed interest in taking the anchor store in the new development. Up until now Hammersons’ refurbishment of its Bull Ring centre has been the front runner for one of the Oxford Street department store’s first major outlets in the regions. If Selfridges took space in Martineau Galleries it would be just a few hundred yards away from Birmingham retail landmark Rackhams on Corporation Street.
Land Secs and AMP are still finalising the details of their proposal and a planning application has yet to be submitted to Birmingham city council. However, planning director Les Sparks has already publicly stated that the scheme fits in with the council’s plans for Birmingham’s future development.
Last December, the two partners bought the 12,634 sq m (136,000 sq ft) Dale House, a mid-1970s building which will also form part of the scheme. In total, the site earmarked for Martineau Galleries covers ten acres with frontages on High Street, Union Street and Corporation Street. Martineau Square is owned by Land Securities while AMP Group subsidiary Pearl Assurance owns Priory Square
Land Secs and AMP plan £250m shopping centre in Birmingham 15/5/96 EGi News
EGi News 17/05/96
