'Victoria Gate' retail development - Page 109

Aaronj09 · January 28th, 2012, 11:49 PM

We'll find out in summer.. if not, then I think we should forget about Eastgate for another few years..

Irish Blood English Heart · January 29th, 2012, 12:21 AM

Would seem logical to me that they'll wait to see how Trinity performs for a while before starting work.

THEONETHATLEEDS · January 29th, 2012, 03:22 PM

Quote:

Originally Posted by Irish Blood English Heart

Would seem logical to me that they'll wait to see how Trinity performs for a while before starting work.

Why would they do that? makes no sense at all far better to start there own investment, rather than looking at their rival going for success to success

FreddyFresher · January 29th, 2012, 03:36 PM

Quote:

Originally Posted by Irish Blood English Heart

Would seem logical to me that they'll wait to see how Trinity performs for a while before starting work.

The two projects are substantially different; one is a covered mall in the centre of the retail core offering high street brands to existing shoppers. The other is a major regeneration scheme to expand the city centre and introduce high end brands and a major anchor tenant in John Lewis, attracting in new shoppers to the city. Therefore the success of Trinity may offer little indication of the potential success of Eastgate.

Businesses such as Hammerson will plan their investments long-term and have already committed substantial sums to the Eastgate development. They're not looking at the consumer today, but the consumer in 2015/16.

Lad 2011 · January 29th, 2012, 04:07 PM

Quote:

Originally Posted by FreddyFresher

The two projects are substantially different; one is a covered mall in the centre of the retail core offering high street brands to existing shoppers. The other is a major regeneration scheme to expand the city centre and introduce high end brands and a major anchor tenant in John Lewis, attracting in new shoppers to the city. Therefore the success of Trinity may offer little indication of the potential success of Eastgate.

Businesses such as Hammerson will plan their investments long-term and have already committed substantial sums to the Eastgate development. They're not looking at the consumer today, but the consumer in 2015/16.

Exactly.

Irish Blood English Heart · January 29th, 2012, 07:05 PM

Hammerson have said they'll start work in Newcastle in April, since they only picked up the site a few months ago that's pretty fast work!

Skychaser 2005 · January 29th, 2012, 09:52 PM

Quote:

Originally Posted by Irish Blood English Heart

Hammerson have said they'll start work in Newcastle in April, since they only picked up the site a few months ago that's pretty fast work!

How big is that project compared to EQ?

Irish Blood English Heart · January 30th, 2012, 05:21 AM

Much smaller. It's the conversion of an existing dying (though attractive) mall into separate large street facing units.

Shiny_Dave · February 3rd, 2012, 02:49 AM

When confidence in the Eurozone crashed in the summer due to the Western debt crisis it led to dramatic falls in the FTSE.

While the FTSE 100, as a whole, is getting back to pre-August levels (see here), Hammersons share price is currently at a similar level to August (see here)

Shiny_Dave · February 20th, 2012, 12:08 AM

Hammerson full year results are announced on Friday. Let's hope Eastgate gets a mention.

Hammerson

Leeds No.1 · February 24th, 2012, 02:30 PM

http://www.hammerson.com/phoenix.zht...889&highlight=

The only clues hinted are that the earliest start is 2013.

Andy Urbanski · February 24th, 2012, 09:52 PM

Sounds as though they need to raise some cash for the Leeds and Sheffield schemes. A 2013 start would seem likely.

Quote:

Hammerson in office disposal drive
Last updated: 24th Feb 2012 at 08:15am
Share | |

Real estate investment trust Hammerson, the company behind the Eastgate Quarters project in Leeds, has announced plans to sell off its office ventures to concentrate on becoming a retail specialist in the UK and France.

The company announced the change in its strategy through its year-end results to the Stock Exchange this morning (24 February).

Net rental income rose 4 per cent in the year ending 31 December 2011, from £284.7m in 2010 to £296m.

Unveiling plans for its change in strategy, Hammerson said its standing office investments would be sold "to maximise value, with capital redeployed to retail assets, increasing our focus and scale".

The company signed 355 leases over the year totalling 1,130,210 sq ft. This stood at 2 per cent above 2 ERV (UK retail was up 1 per cent, France retail rose 2 per cent and offices were up 7 per cent.)

David Atkins, chief executive of Hammerson, said: "Following the review of our strategy we will focus on being the best owner-manager and developer of retail property within Europe. Hammerson has created a retail business delivering outperformance from prime assets in winning locations.

"We now intend to sell our standing office investments over the medium term to maximise returns, redeploying capital into the retail sector to exploit our expertise and build on our existing scale. This will create efficiencies that lead to further cost savings and income growth from our portfolio."

Hammerson added that it has a new development agreement with Sheffield City Council for Sevenstone and now have control of the development land. Sevenstone has outline planning consent, some of the buildings within the scheme have detailed consent and we are working closely with "principal stakeholders", such as John Lewis.
http://www.insidermedia.com/insider/...isposal-drive/

Shiny_Dave · February 24th, 2012, 11:20 PM

Quote:

Robust, flexible financial position. Over £650 million of new credit facilities signed, contributing to liquidity of over £700 million, which combined with gearing of 52% provides flexibility to fund acquisition, extension and development opportunities.

Hammerson 2011 Full-Year Results

Yorkshire Boy · February 25th, 2012, 01:58 AM

Quote:

Originally Posted by Andy Urbanski

A 2013 start would seem likely.

di Livio · February 25th, 2012, 03:37 PM

What does it say on the front of that gentleman's tunic?

this_city · February 25th, 2012, 05:26 PM

Quote:

Originally Posted by di Livio

What does it say on the front of that gentleman's tunic?

his name?

Shiny_Dave · February 27th, 2012, 01:01 AM

Quote:

Section 7 Public Transport Impact
6.1. Metro have carried out a detailed analysis of the existing bus operations
affected by the proposals and have confirmed the proposed changes are
acceptable.
6.2. Metro have discussed the proposals with the bus opertators who support the
proposals.
CHECKED BY:
6.3. Some bus services that currently use Eastgate in both directions to terminate at
the bus station will be diverted to the northern section of Vicar Lane, assessed
at 22 buses per hour, the proposed diversion will use New Briggate and the
Headrow to complete the loop. Bus operators could choose an alternative route
if they wished. This represent approximately a third of the eastbound buses
diverted from Eastgate, the remaining two thirds will divert via Vicar Lane,
Kirkgate and York Street to access the bus station or continue to other
destinations to the south of the city.

30 Jun 2011 Consultee HIGHWAYS

Shiny_Dave · February 28th, 2012, 08:29 PM

Quote:

Subject: Eastgate Quarter – Amendment to Legal Documentation & Commercial
Deal

Summary of main issues
1. In September 2011, after securing revised outline planning permission for the
development at Eastgate, Hammerson approached the Council with a revised
proposal for their development of Eastgate which would help secure the potential
delivery of the main anchor store, John Lewis.
2. To secure the delivery of a John Lewis store, a commercially viable scheme has to
be developed which will enable John Lewis Partnership to be trading by 2016.
Changes will be required to the existing legal documentation. These changes are
now set out in the confidential Appendix A and Plan 1.

This is on the agenda for next weeks LCC Exec Board meeting. It doesn't explicitly say what the change is. However, it looks like the J Lewis side will be built first.

So where will the car park be? The new Elland Road police HQ may be ready by 2014 leaving Millgarth as an opportunity. Alternatively, the area of the open market will be released for speculative development as part of the shriniking of Kirkgate market (see my prediction on this).

Agenda

Report

Leeds No.1 · February 29th, 2012, 01:35 AM

How specific are JL's requirements?

If not too specific, the 'at grade' car parks that exist might suffice temporarily?

I doubt that the council are keen on building any new car parks around the open market. This is all space that should be part of the core city fabric in the long term, while car parks are ideally on the periphery.

Milgarth is an option if the police move by then though, yes.

tomd89 · February 29th, 2012, 02:31 AM

I always thought this was the best option for the present situation, divide the scheme into two phases along Eastgate, the only link between the two is the narrow glass bridge so it should be easy to build the first phase without much looking out of place.

Phase one being one side of Eastgate, John Lewis and the outdoor shops leading to VQ, starting late 2012, early 2013, completion 2014/15 with the current china town area car parks being landscaped to look a bit smarter (ala back of the Rose Bowl)

Phase two being other side of Eastgate, car park and mall with M&S as anchor starting hopefully when the economy is looking up a bit.

I prefer this to delaying the whole project indefinitely.

February 24th, 2012, 02:30 PM	#2171
Leeds No.1 Registered User Join Date: Jul 2004 Location: Leeds, EU Posts: 22,293 Likes (Received): 102	http://www.hammerson.com/phoenix.zht...889&highlight= The only clues hinted are that the earliest start is 2013. __________________ "Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure, It is our light not our darkness, that frightens us"

February 29th, 2012, 01:35 AM	#2179
Leeds No.1 Registered User Join Date: Jul 2004 Location: Leeds, EU Posts: 22,293 Likes (Received): 102	How specific are JL's requirements? If not too specific, the 'at grade' car parks that exist might suffice temporarily? I doubt that the council are keen on building any new car parks around the open market. This is all space that should be part of the core city fabric in the long term, while car parks are ideally on the periphery. Milgarth is an option if the police move by then though, yes. __________________ "Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure, It is our light not our darkness, that frightens us"

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January 28th, 2012, 11:49 PM	#2161
Aaronj09 Not a Registered User Join Date: Jan 2009 Location: Leeds Posts: 7,695 Likes (Received): 215	We'll find out in summer.. if not, then I think we should forget about Eastgate for another few years..

January 29th, 2012, 12:21 AM	#2162
Irish Blood English Heart Letting off the happiness Join Date: Sep 2002 Location: Wherever I lay my hat Posts: 4,287 Likes (Received): 34	Would seem logical to me that they'll wait to see how Trinity performs for a while before starting work.

January 29th, 2012, 07:05 PM	#2166
Irish Blood English Heart Letting off the happiness Join Date: Sep 2002 Location: Wherever I lay my hat Posts: 4,287 Likes (Received): 34	Hammerson have said they'll start work in Newcastle in April, since they only picked up the site a few months ago that's pretty fast work!

January 30th, 2012, 05:21 AM	#2168
Irish Blood English Heart Letting off the happiness Join Date: Sep 2002 Location: Wherever I lay my hat Posts: 4,287 Likes (Received): 34	Much smaller. It's the conversion of an existing dying (though attractive) mall into separate large street facing units.

February 3rd, 2012, 02:49 AM	#2169
Shiny_Dave Registered User Join Date: Jan 2010 Posts: 898 Likes (Received): 7	When confidence in the Eurozone crashed in the summer due to the Western debt crisis it led to dramatic falls in the FTSE. While the FTSE 100, as a whole, is getting back to pre-August levels (see here), Hammersons share price is currently at a similar level to August (see here)

February 20th, 2012, 12:08 AM	#2170
Shiny_Dave Registered User Join Date: Jan 2010 Posts: 898 Likes (Received): 7	Hammerson full year results are announced on Friday. Let's hope Eastgate gets a mention. Hammerson

February 25th, 2012, 03:37 PM	#2175
di Livio Registered User Join Date: Sep 2002 Location: Trinity Leeds Posts: 7,563 Likes (Received): 54	What does it say on the front of that gentleman's tunic?

February 29th, 2012, 02:31 AM	#2180
tomd89 Registered User Join Date: Feb 2007 Posts: 609 Likes (Received): 0	I always thought this was the best option for the present situation, divide the scheme into two phases along Eastgate, the only link between the two is the narrow glass bridge so it should be easy to build the first phase without much looking out of place. Phase one being one side of Eastgate, John Lewis and the outdoor shops leading to VQ, starting late 2012, early 2013, completion 2014/15 with the current china town area car parks being landscaped to look a bit smarter (ala back of the Rose Bowl) Phase two being other side of Eastgate, car park and mall with M&S as anchor starting hopefully when the economy is looking up a bit. I prefer this to delaying the whole project indefinitely.