Westfield unveils Broadmarsh redevelopment plans
Published: 30 March, 2011
A week after Capital Shopping Centres unveiled its plans to add 500,000 sq ft to Nottingham’s Victoria Centre, Westfield and LaSalle Investment Management have update their rival proposals for the £500m redevelopment of the Broadmarsh shopping centre
Planning permission for the redevelopment of the Broadmarsh, which is owned by Westfield and joint venture partner the Royal Mail Pension Fund (represented by LaSalle Investment Management), had already been granted. As part of the renewal of that permission, Westfield has been working closely with Nottingham City Council to revise the plans and create a modern and contemporary scheme fitting for its critical location as the gateway to Nottingham.
The core components of the scheme, including two new department stores, high quality dining offer, new transport hub and infrastructure improvements, have not changed, Westfield has been consulting the council on a series of revisions to enhance the connections with the city, create greater open spaces and ensure the development is in-keeping with the urban grain of the city centre.
Westfield chief operating officer Peter Miller, said: “It was with great frustration that we had to stall the major scheme during the last few years of economic crisis, however with renewed demand and impetus from retailers seeking quality space in Nottingham, we look forward to taking the scheme forward. This scheme is vital to unlocking the regeneration of the South side and will provide a catalyst for further investment in this important gateway to the city.”
Ahead of the redevelopment, Westfield is investing £40m in repositioning the existing centre. Hollister and Cult have already signed up to take large new units. The majority of the newly configured space is due to open by Christmas this year and the remaining balance by next Spring.
