Economic major development milestones in Southampton this week14th April 2016
Southampton’s commitment to its ongoing plan of economic growth and development in the city will be recognised by the Estates Gazette when they visit the city to speak to industry leaders as part of a planned City Talk event.
Southampton will be the first city in the country to be recognised as one of the UK’s most dynamic cities by EG, who signpost key destinations for investors and developers.
The event, taking place on today (Thursday 14 April), coincides with the Topping-Out ceremony for WestQuay Watermark and the ceremony of ground-breaking at the Meridian Waterside residential development site. These two projects are part of a long-term Masterplan, launched in 2012, which will see over £3bn of investment coming in to the city.
Topping-out marks an important milestone in Phase 1 of Hammerson’s construction project. The £85m development will feature the luxury brand Cinema de Lux's first 10 screen cinema in the south along with up to 20 new restaurants, with 83% of the units already pre-let.
Due to open in late 2016, the development will receive £7m from the government's Regional Growth Fund to support the transformation of the public realm into a new and vibrant plaza.
Plans are being looked at for a second and third phase, which will include redevelopment of City Wall House. There is potential for these phases to comprise a residential tower, a hotel, restaurants and additional public space.
Brownfield regeneration specialists, Inland Homes, are the developers who will be building the 350 planned residential units at the Meridian Waterside site. The former Meridian TV studios complex will also feature a convenience store and a new park.
The project is one of a number of large scale investments that will help to fulfil the potential of the waterfront and riverside areas of the city.
Successful economic growth and development within the city has been highlighted through some recent key survey figures: Southampton is the 4th highest ranking English city for good growth (source PWC). Southampton is also in the top 10 list of UK cities voted as being one of the ‘happiest cities to work in’ (source OPP).
Dawn Baxendale, Chief Executive Southampton City Council: “Our ongoing commitment to Southampton becoming the destination city of the South Coast is underlined by the Estates Gazettes recognition of the city as an emerging key area of growth. There is a huge level of investment coming in to the city, creating hundreds of jobs in differing sectors. Ultimately, this significant and ambitious plan of transformation is leading to a greatly improved landscape in the city.”
Stacey Meadwell, London Editor for Estates Gazette: "Estates Gazette is delighted to be holding the first in a new series of City Talks events in Southampton. It is a waterfront city with great potential and has a number of interesting large scale regeneration projects including Itchen Riverside and the Royal Pier as well as other development and investment opportunities.”
Mark Gilpin, Planning Director for Inland Homes: “Commercially it’s a good time to be in Southampton. This will be a true regeneration scheme that will ultimately allow people to have good access to the waterfront.”
Watermark WestQuay - artist's impression
Meridian Waterside development - artist's impression