|
|
 |
Plymouth
city centre has been a building site for a year...but at last, the
£200 million retail development is rapidly emerging from the
rubble.
The Drake Circus redevelopment will provide a 60,000 square metre
(654,000sq ft), covered shopping centre with a 1,270 space car park.
Gone are the old eye sores, such as the Charles Cross multi-storey
car park, which made this part of the city a less than attractive
area to visit.
But what will the new Plymouth look like? Well, the computer images
provided by the original developers, P&O Developments, provide
an insight.
 |
| Giant
cranes at the site - pictured January 2005 |
The current
plans envisage six major stores, with Marks and Spencer as the main
anchor retailer.
Boots and Virgin Megastore have pre-let two of the largest shop units
and will relocate to Drake Circus.
Earlier plans to include a large Allders' department store fell through
when the chain went into administration.
If the developers fail to find another big department store to fill
the space, they could break the Allders building up into two or three
smaller units.
"There has been very strong interest in this scheme with a lot of
tenants signed up and many more in solicitors hands at the moment,"
explained Ray Knight of P&O Developments.
"I believe the scheme fits so well with what's required in Plymouth
that it will be successful whatever the size and nature of the anchor
store."
The M&S store will be twice the size of the current shop, and
will have have bridge links to the mall part of the development and
the car park.
Meanwhile Boots have taken a 15-year lease on a 28,500 sq ft store
which will significantly increase its presence in the city.
As part of the deal, the developers will take over Boots' existing
Plymouth store and redevelop the space with a view to totally refurbishing
it and possibly sub-dividing it into smaller shops.
 |
| What
it will look like inside |
In January
2005, fashion store Zara agreed a deal to take on a lease at the third
biggest unit.
Virgin Megastore is another big name to sign up for Drake Circus.
Virgin says it has outgrown its existing store in Armada Way and will
move to a bigger site on the ground floor of the new complex.
Ottakar's and New Look sign up
In May 2005, the country's second biggest book retailer Ottakar's
pre-let a unit. The Ottakar's store will be located on the lower ground
floor, taking 9,500 sq ft (883 sq m) on a 15 year lease. It is due
to open in autumn 2006.
And on 31st May, fashion store New Look announced a 15 year lease
on a 20,000 sq ft (1,858 sq m) unit on the lower ground floor, next
to the Boots store.
The
latest deals means well over half of the centre's space has now been
let. Talks are also taking place with retailers including Next, Gap,
Topshop and New Look.
As well as the six major stores, there will be 48 smaller shops, plus
cafes and restaurants.
The centre will have two trading levels, with the upper level having
a mezzanine floor.
The developers predict that the retail centre will provide up to 2,000
part-time and full-time jobs.
The
developers commissioned retail architects Chapman Taylor to design
the centre - they have previously worked on schemes in Bath, Exeter
and Bristol.
The
main contractors are Bovis Lend Lease, who are constructing the new
complex with the help of five huge cranes which loom over the city.
 |
| This
show what the redevelopment will look like |
Meanwhile,
work continues on the area's roads.
Out
of all of the materials removed from site, between 95 and 98% is
being recycled.
A stock pile of 40,000 tonnes of crushed concrete, stored in a quarry
outside Plymouth, is being used by Bovis Lend Lease in the construction
of the new centre.
On 31st January 2005 P&O Developments sold their interest in
the Drake Circus development for £55 million to new owners
Morgan Stanley Real Estate Fund.
As part of the deal with the freehold owners Plymouth City Council,
the freehold will switch to the new owners when the work is completed.
The disruption to the city centre will carry on until 2006, with
the development set to open in the autumn of that year.
July
2005:
Primark
has signed up for one of two newly created anchor stores at Drake
Circus.
The two new anchors stores were created as a result of the division
of the space previously to be occupied by Allders.
The new Primark store will occupy the lower ground floor, the centre's
main mall trading level, together with the a further unit immediately
below connected via new passenger escalators and lifts, which affords
the store with a large frontage and direct access onto Exeter Street.
What
do you think? Have your say
|
