Southampton council today unveiled a programme of development projects in the city in a bid to bolster confidence in a tough market.
Speaking at a reception attended by developers and agents at the City Art Gallery Civic Centre, Cllr Royston Smith, cabinet member for economic development, said he could not imagine any of the city’s schemes not getting built due to the stalled market.
He said: “We are all aware of the economic problems, but we can’t just sit back and cry into our beers. We have to be brave and take advantage of new opportunities.”
Projects going ahead include an Arts Complex on the site of the former Tyrrell & Green building. The city council announced it had funded the £1m demolition of the existing derelict building on the site and invited tenders for the project.
The council also pledged to support the Royal Piers development – a leisure-based scheme designed to rival Portsmouth’s Gunwharf Quays and provide improved facilities for the Southampton International Boatshow.
An 18-month exclusivity agreement was signed with Scottish developer Kilmartin in July for the development of the waterfront site around the Royal Pier. Previous proposals have included an ice rink, a conference centre and a 200-room hotel.
Cllr Smith also said he would do all he could to help Hammerson bring forward its £150m mixed-use development at Watermark WestQuay on the former Pirelli factory site in the city centr, but added that the developer “might consider the phasing of the scheme”.
Proposals include a multiplex cinema, public open space, cafes and restaurants, up to 200-apartments and a 150-room hotel.
Development Securities said it had almost completed the 210,000 sq ft Carnival building and anticipated handing it over to the occupier by December this year.
However, it said the final 60,280 sq ft phase of office development at West Quay was unlikely to begin until a tenant signed a prelet or there was a “significant change in market conditions”.
