Despite not a particularly new project, I noticed this major shopping centre doesn't have a thread! So what do we think of the White Rose Centre? If you ask me, its a really good shopping centre, but I think it would really benefit from expansion, but not so much it would make Leeds City Centre look not as good. Much better integration to the transport network is needed...
Our business is really blooming
White Rose leads way
THE growth of the White Rose shopping centre on the outskirts of Leeds has given a boost to owner Land Securities.
Land Securities' Yorkshire and the Humber property portfolio is now valued in excess of £550m following its acquisition in June of Leeds-based Tops Estates.
And White Rose, its flagship in Leeds, has outperformed the market with 16 per cent growth during the half year to September 30 - the period covered by the company's interim results.
Land Securities' regional director, Gerald Jennings, said the asset value of White Rose had grown through a combination of increased rentals, yield improvement and development activity.
"The reconfiguration of Sainsbury's created 72,000 sq ft of prime space that has enabled Next and River Island to more than double their floorspace at White Rose and see Zara and Schuh as new entrants."
In Harrogate, where the Victoria Shopping Centre came into the Land Securities portfolio following the Tops deal, there has been a £1m programme of investment to enable the expansion of TK Maxx and development of a new Mothercare store. York's Coppergate Centre has seen the arrival of Topshop and Topman in a 38,000 sq ft unit formerly occupied by Allders.
Development
In addition to its growing retail interests in Yorkshire and Humber, Land Securities – along with Crosby Homes (Yorkshire) and the Leeds-based Evans Property Group - is a partner in the Hungate (York) Regeneration joint venture that has been given the green light for a £150m housing led, mixed-use development in York.
The company's regional portfolio now also includes The Plaza Shopping Centre in Leeds, and the Leeds-based regional team headed by Mr Jennings has grown to 11, with further staff due to join in the New Year.
For the six months to September 30, pre-tax profits across the business as a whole rose 89.2pc to £1,184.4m, compared with £625.9m at the same stage last year, including gains on disposal of assets and revaluation surpluses. Revenue profit increased by 16.1pc to £218.5m from £188.2m.
The company has declared an interim dividend of 18.15p, up 74.5pc on last year's 10.40p, which it said reflected both underlying growth of five per cent and the board's decision to pay a greater proportion of the dividend at the interim stage
The group's retail portfolio now includes 28 shopping centres, 32 retail warehouses and 11 supermarkets, with a development pipeline including six town centre schemes totalling 330,110 sq m
Land Securities said it had made strong progress in its London portfolio to ensure it benefited fully from market recovery - demonstrated in part by the acquisition of seven properties totalling £343m
Our business is really blooming
White Rose leads way
THE growth of the White Rose shopping centre on the outskirts of Leeds has given a boost to owner Land Securities.
Land Securities' Yorkshire and the Humber property portfolio is now valued in excess of £550m following its acquisition in June of Leeds-based Tops Estates.
And White Rose, its flagship in Leeds, has outperformed the market with 16 per cent growth during the half year to September 30 - the period covered by the company's interim results.
Land Securities' regional director, Gerald Jennings, said the asset value of White Rose had grown through a combination of increased rentals, yield improvement and development activity.
"The reconfiguration of Sainsbury's created 72,000 sq ft of prime space that has enabled Next and River Island to more than double their floorspace at White Rose and see Zara and Schuh as new entrants."
In Harrogate, where the Victoria Shopping Centre came into the Land Securities portfolio following the Tops deal, there has been a £1m programme of investment to enable the expansion of TK Maxx and development of a new Mothercare store. York's Coppergate Centre has seen the arrival of Topshop and Topman in a 38,000 sq ft unit formerly occupied by Allders.
Development
In addition to its growing retail interests in Yorkshire and Humber, Land Securities – along with Crosby Homes (Yorkshire) and the Leeds-based Evans Property Group - is a partner in the Hungate (York) Regeneration joint venture that has been given the green light for a £150m housing led, mixed-use development in York.
The company's regional portfolio now also includes The Plaza Shopping Centre in Leeds, and the Leeds-based regional team headed by Mr Jennings has grown to 11, with further staff due to join in the New Year.
For the six months to September 30, pre-tax profits across the business as a whole rose 89.2pc to £1,184.4m, compared with £625.9m at the same stage last year, including gains on disposal of assets and revaluation surpluses. Revenue profit increased by 16.1pc to £218.5m from £188.2m.
The company has declared an interim dividend of 18.15p, up 74.5pc on last year's 10.40p, which it said reflected both underlying growth of five per cent and the board's decision to pay a greater proportion of the dividend at the interim stage
The group's retail portfolio now includes 28 shopping centres, 32 retail warehouses and 11 supermarkets, with a development pipeline including six town centre schemes totalling 330,110 sq m
Land Securities said it had made strong progress in its London portfolio to ensure it benefited fully from market recovery - demonstrated in part by the acquisition of seven properties totalling £343m
