Victoria Gate in numbers
- £165m
- 381,000 sq ft
- 90% let
- Opens 20th October
It has been at least 15 years in the making, but this month Hammerson will open the doors to its 381,000 sq ft, £165m Victoria Gate development in Leeds.
Part of the developer’s 575,000 sq ft Victoria Estate, and with John Lewis as anchor, the scheme will be approaching 90% let when it opens on 20 October.
The aim was to attract and improve the city’s higher-end retail offer – so is Hammerson pleased with the line-up it has so far?
“We have consistently been impressed by the quality of retail, whether that is Calvin Klein, Anthropologie or Hackett – it is the tone we set out to achieve,” says development director Robin Dobson. “Some are taking a first step outside London, which is testimony to what they see in Leeds city region.”
He adds that the premium brands target Hammerson set has been achieved, “if not surpassed”.
Along the way, it was the leisure strategy that changed, with the developer responding to demand and adding a number of destination rooftop restaurants.
Dobson says rental targets have been pretty much met, and having around 10% of the space still to let at opening was part of the strategy.
It allows us to take stock about who we want to let the rest to. Retailers are like buses”
Robin Dobxon, Hammerson
“It allows us to take stock about who we want to let the rest to. Retailers are like buses – the strength of the retail brands we have has allowed us to start discussions with other retailers.”
Outside Victoria Gate, Leeds city centre continues to attract retailers, with Savills research showing that 20 retail brands have taken new stores so far this year, the tone of which is biased towards aspirational brands.
Steve Henderson, director in Savills retail team, says: “Such is the attraction of Leeds for retailers that it is now one of the most important retail destinations in the country. The trend will continue with the opening of Victoria Gate.”
The timeline
2001 Town Centre Securities submits planning as Leeds City Council’s preferred developer for a 120,000 sq ft Harewood Quarter scheme
2003 Plans put on hold as TCS works with Hammerson on a masterplan for a larger, £400m scheme to be called the Eastgate and Harewood Quarter; Selfridges is in talks to anchor but later drops the plans
2005 John Lewis confirmed as anchor
2006 Planning submitted
2007 Planning granted; opening scheduled for 2012
2010 TCS gives control of scheme to Hammerson. Public consultation leads to slightly scaled-down plans
2011 New planning application for slimmed-down scheme; start date now given as 2013
2013 Scheme renamed Victoria Gate; Land Securities’ 1m sq ft Trinity Leeds retail and leisure scheme opens
2014 Start on site
2016 Opens on 20 October
Source: EGi shopping centre research
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