Finnish construction company YIT has announced that the Mall of Tripla project in Helsinki secured a €300M financial package.The financial package will be provided by a group of banks, including the European Investment Bank (EIB), the Nordic Investment Bank (NIB), Danske Bank and Handelsbanken.The €600M shopping mall is set to become the largest shopping centre in Finland in terms of the number of retail spaces.It will have 85,000sq m of leasable floor area for a total of 250 tenants, and a car park with 2,300 spaces. The development will feature new solutions for recycling, water treatment and waste processing, allowing the constructors to apply for a Platinum-level LEED certification. The project is expected to be completed in late 2019.
Oxfordshire’s Vale of White Horse Planning Committee has approved Mace’s planning application to redevelop the former West Way shopping centre in Botley, Oxford, UK.The project, called West Way Place, is set to become a mixed-use retail centre, which will include 140 new homes, a 122-bed Premier Inn, 321 car parking spaces and a 1,325sq m Co-Op store.The development will also involve the construction of 262 university-related student rooms, a new Baptist church, and a new community centre incorporating a public library.Mace’s development director Huw Griffiths said: ‘The West Way Place planning consent is a genuinely community-led proposal shaped by an eight month public consultation which included four meetings of a Community Liaison Group, a series of Community Workshops and a public exhibition. “This consultation enabled community views to be fed into the proposals, guiding the plans at every stage of the design process. “We are particularly pleased that development at West Way Place will be phased so retailers will be able to continue trading throughout the redevelopment. “Mace are proposing a direct let leasing model for the student accommodation but also have interest from Oxford’s two Universities. Retail tenants will include a mix of new and existing tenants.”
Developers Capital & Centric and Henry Boot have submitted plans to Manchester City Council for the first phase of a £200M mixed-use project in Manchester, UK.The project, designed by architects Mecanoo and Shedkm, will be located off Aytoun Street on a 2.3-acre plot of land acquired from Manchester Metropolitan University in 2014.Subject to planning consent, the residential-led mixed-use development in central Manchester will feature its own 'secret garden' as part of an innovative design.Phase one of the development will include about 500 private rented flats across two 12–16-storey buildings, featuring retail and leisure space at the ground floor level.The project will also include the refurbishment of the existing 1960s former Aytoun Tower, including a roof village of timber Dutch townhouses.Plans for the second phase, which will involve the redevelopment of the listed Minshull Mill and Minto & Turner Mill, are to be submitted later this year.Adam Higgins from Capital & Centric’s said: “We have worked closely with Manchester city council and importantly, the local community to create this exciting scheme, which will rejuvenate this area of our city that has been neglected for too long.“The ‘secret garden’ concept is pivotal to our vision to create a vibrant new bohemian destination for the city.”
Midlands-based developer St. Modwen has been selected as commercial development partner by Bovis Homes to deliver its £900M Stanton Cross project in Wellingborough, UK.The development will create up to 144,000sq m of commercial space on more than 100 acres at Stanton Cross, having outline permission for a mix of commercial uses including industrial and distribution, offices, retail and leisure.Stanton Cross will also see the construction of 3,650 homes, 379 of which will be built in the first phase of the project, which has received detailed planning approval in October 2015 and is scheduled to commence on site this year.Rupert Wood, regional director for the Northern Home Counties at St. Modwen, said: “It is a major project for our growing Northern Home Counties region and will provide a significant development pipeline in an area which is seeing economic growth.”The Stanton Cross project is expected to take 15 years to complete.
Urban regeneration specialist Queensberry Real Estate has been selected by Sheffield City Council as the preferred bidder for the role of strategic development partner in the £480M Sheffield Retail Quarter project.The first phase of the project is expected to be complete in 2019 with further final phases being completed in 2021. The project is expected to create around 2,500 jobs in the region.Councillor Leigh Bramall, deputy leader of Sheffield City Council and cabinet member for business and economy, said: "We are delighted to announce Queensberry Real Estate as preferred bidder to become our Strategic Development Partner for Sheffield Retail Quarter.“This is a key milestone and a significant step forward in the delivery of the scheme, which will provide a transformational development in the heart of our city centre.”Queensberry’s CEO Paul Sargent said: “My team has been focused for the last 18 months on winning this major instruction. It is a dream come true. A scheme that meets the scale of our ambition and challenges our creative experiences to date.“We will work seamlessly with Sheffield City Council to deliver the long awaited regeneration of the city centre. Our joint plans will be cutting-edge and inspirational placing the city at the forefront of the next revolution in urban place making.”
Plans have been submitted to Salford City Council for the second phase of the mixed-use property development MediaCityUK in Manchester.Phase two of MediaCityUK will feature 50,000sq m of offices, 1,800 apartments, retail and leisure space and a pedestrian promenade, which will run through the development. Entailing an investment of over £1bn, this phase of the project will also involve the construction of up to ten new buildings.Salford’s planning panel is expected to consider the plans in September.Peel Group CEO Steven Underwood said: “This application is another major step forward in the evolution of MediaCityUK. “Our partnership with Legal and General Capital, alongside continued support from the public sector, provides a strong platform to deliver future development phases of the UK’s fastest growing hub for the creative and digital industries.“MediaCityUK is a shining example of what can be achieved across the Northern Powerhouse, combining the talents of great people with ambition and vision.”MediaCityUK is a joint venture between Peel Land & Property and Legal & General Capital.
Cheshire West and Chester Council has submitted a planning application to develop the Northgate area of Chester city centre as a mixed-use development.The £300M proposed project will include the construction of 46,500sq m of new retail, restaurant and leisure facilities in the UK city that will be delivered over two phases of construction.Phase one, expected to start in late 2017, will include the development of two restaurants within the shell of the current library building, a new market hall replacing the current Chester Market, a six-screen cinema, a new 167-bedroom four-star hotel and a conference centre. The hotel would replace the Crowne Plaza Hotel, which together with the Forum and several other buildings on the site would be knocked down in 2019. Work would then commence on the second phase of construction to create the main retail space, department store and residential development.David Lewis, managing director of Rivington Land, the council’s appointed development manager, said: “We are at a point where we have sufficient confidence in the commercial market prospects of the Northgate Scheme to advise the council to make this application for a major redevelopment of the city centre.“We have worked hard with the council and consultees to fine tune the detailed design of Chester Northgate to ensure the best possible fit with the city’s needs and the demands of retailers and other commercial interests.”
Real estate investment company LXB Retail Properties has secured planning consent from the South Ayrshire Council for key elements of a new community development at Corton, UK.Corton is the first phase of the South East Ayr Development that will feature 2,700 new homes on a 450-acre site over 30 years. The development is set to be delivered in three phases: Corton, Alton and Cockhill.The Corton phase comprises 750 houses, a new primary school, a hotel, a neighbourhood centre, shops, a pub/restaurant, business units and community and leisure facilities.The approved plans include a Sainsbury’s supermarket, with associated car park and petrol filling station, and a new equestrian, pedestrian and cycle bridge over the A77, linking into a footpath network.The Corton development is expected to deliver a total new investment of about £184M in South Ayrshire.Sandra Carter from LXB said: “We are delighted that detailed consents for this initial phase have been granted facilitating the delivery of the new supermarket and site infrastructure.“It is anticipated that other elements of the development will soon be brought forward including a pub/restaurant, other neighbourhood business and amenity spaces together with the first phase of private and affordable housing.”
Muse Developments, in collaboration with Network Rail, has submitted a planning application for a £185M mixed-use project in Manchester city centre.The proposed project will be located on a 2.5-acre site on Corporation Street, which is currently a surface-level car park, and will include three new buildings; a 13,900sq m, Grade A, eight-storey office and two residential buildings.The 20- and 25-storey residential buildings, part of Network Rail’s commitment to unlock publically-owned land to build new homes, will contain up to 520 one-, two- and three-bedroom apartments. The development will also include a gym, 24-hour concierge, communal residents’ lounge, cycle storage and a roof garden. Muse Developments’ director David Burkinshaw said: “This is an exciting time for this area of Manchester as a number of key developments are now coming to fruition.“New Victoria presents a unique opportunity to deliver a landmark development next to the city centre’s prime leisure and retail attractions and one of the North West’s main transport hubs. New Victoria offers an unparalleled location and an outstanding development opportunity.”Muse is working with architect Sheppard Robson and Arup on detailed design proposals for the project.
UK-based Wates has begun construction work on the new £45M Redrock Stockport leisure and retail development.The development is part of Stockport Council’s £1bn ‘investing in Stockport’ programme and was marked with a ground-breaking ceremony.Redrock Stockport will feature 7,000sq m of leisure, retail and restaurant space that includes a 360-space NCP multi-storey car park and a ten-screen cinema.Eamonn Boylan, chief executive at Stockport Council, said: “I am thrilled that we have reached this landmark stage on Redrock Stockport, and that our vision of transforming this area of the town centre is becoming a reality. “The new cinema, restaurants and retail units will bring a new vibrancy to this area of our town centre making a great place to visit and spend time.”Wates and Stockport Council are ensuring that local SMEs are involved in the project and that on-site training and employment opportunities are created.Wates Construction North West business unit director, Tony Shenton said: “There is an anticipation growing for Redrock Stockport and for good reason; it is going to become a great asset for the town, the economic benefits of which will keep on building. “As with all of our projects, employing a local supply chain will be a key part of our delivery of Redrock Stockport, as will our ongoing engagement with and support of neighbouring businesses.”
Laing O’Rourke has been appointed the main contractor by Intu for the £178M Intu Watford shopping centre extension in UK. The project will add an extra 37,000sq m to the existing centre, extending the retail and leisure site to 130,000sq m.According to Intu, a 12,000sq m Debenhams store will be at the heart of the extension, along with a nine-screen Cineworld cinema. Catering names such as Las Iguanas, Byron and Cabana have also been confirmed for the mall. Rebecca Ryman, regional director of Intu, said: “Our £178m extension of Intu Watford will transform the centre into a contemporary shopping experience providing a fantastic place to shop, eat and play. “It will massively strengthen Intu Watford as a destination which retailers want to invest in and our visitors enjoy.”Liam Cummins, head of UK Construction at Laing O’Rourke said: “We are delighted to be continuing to develop our partnership with Intu, and look forward to delivering this transformational retail project for Watford."
Real estate developer British Land has revealed details of a £300M project to expand Meadowhall shopping centre in Sheffield, UK.The 30,000 sq m proposed Leisure Hall will include a wide range of dining and entertainment options, with new restaurants, a new café court, a gym, and other leisure spaces.The new hall and existing centre are set to create a new multi-levelled, landscaped mall with internal and external spaces for promotional and community uses. It has also been designed to accommodate large outdoor events including live music.British Land’s head of retail and leisure Charles Maudsley said: “We are continuing to drive Meadowhall’s evolution to ensure it remains an outstanding place for modern consumer lifestyles. “This significant step change in the scheme’s leisure provision will contribute to Sheffield’s continuation as a driving force behind the Northern Powerhouse. This is a very exciting time and we look forward to working with Sheffield City Council to help ensure Sheffield’s future success.”British Land, the co-owner of Meadowhall, is starting a public consultation on the expansion proposals. If the proposals are approved, construction work will commence in 2018. The hall is expected to open to visitors in late 2020 or early 2021, creating more than 1,000 jobs in the region.
UK-based Caddick Construction has been selected by Derwent Group to develop a £100m retail and leisure site on Edge Lane in Liverpool.To be known as Liverpool Shopping Park, the 727,000sq ft mixed-use commercial development will include 41 retail units, parking for 1,500 cars and leisure space.The project, designed by AEW Architects, also involves the construction of industrial units and two large retail units.Phase one of the development, known as Western Quarter, will feature 92,500sq ft of retail space.Derwent Group’s managing director David Lyons said: “This is a transformative project and the final piece of Liverpool’s retail puzzle. Liverpool Shopping Park will bring branded fashion retailers, restaurants and leisure operators together in an out-of-town location, complete with plenty of free parking and great access in and out of the city.“This is a sizeable and strategic £100m investment for the Derwent Group and it will deliver much needed regeneration and jobs in this part of the city. “It’s taken some time to get this project on the table but everything is now in place for work to begin in earnest in April. We are delighted to be working with Caddick Construction again.”
Braeburn Estates, a joint venture between Canary Wharf Group and Qatari Diar Real Estate Investment Company, has broken ground on the £1bn Southbank Place mixed-use development at London's Shell Centre tower site.The Shell Tower will anchor the development that will feature five residential buildings and two buildings for business use.Canary Wharf Group said that 80% of the apartments, equating to 800 units, in five buildings are already sold. The two business buildings will total up to 530,000sq ft. Southbank Place will also house 48,000sq ft of retail outlets, restaurants and cafés.The project is expected to create over 13,000 construction and supply chain jobs in total and when completed, Southbank Place is expected to employ over 6,000 workers.Canary Wharf Group CEO Sir George Iacobescu said: "This is an area that has long been neglected, but will offer the best of all worlds, from the bustling culture of the South Bank to some spectacular views of the most recognised landmarks in the Capital, the Houses of Parliament and Big Ben."Southbank Place is also playing a major role in the development of the local community by creating new jobs, providing affordable housing and stimulating the growth of local businesses through our South London Procurement Network initiative."Construction work is slated to be complete by 2019.
Construction has started on phase one of the £107m Warrington Time Square regeneration project that will transform the centre of the UK town into a contemporary marketplace. The development will house a Cineworld Cinema, a new 42,000sq ft market hall, restaurants, retail units, new council offices, a 1,100-space multi-storey car park and a new public square. The new 25,000sq ft retail shell will temporarily house the town's market while the £10m market hall is built.During the construction phase, about 400 workers will be employed and when completed, Warrington's Time Square regeneration project will create 400 new permanent jobs in the leisure, retail and hospitality sectors.Steve Green, director for the North West region at Gleeds, which is providing cost management services to the project, said: "We are really excited to see work begin on the Time Square development and believe the project is pivotal in regenerating and revitalising Warrington town centre."Not only will Time Square create hundreds of jobs for the community and help boost the local economy, it also will help attract inward investment to the region."The project, undertaken by Muse Developments and Warrington & Co. on behalf of Warrington Borough Council, is expected to be completed in 2019.
UK-based property developer Nikal has received planning approval to build a £100m 603-unit residential project in Birmingham, UK. The development, known as Exchange Square, will be located between Birmingham's central business district and Eastside City Park, close to the proposed HS2 railway terminal in Birmingham City Centre.Designed by Stephenson Studio, the development will feature a range of one- and two-bedroom units alongside a small number of studios, and will be built across three blocks of 27, 16 and nine levels.It will also include 27,500sq ft of ground floor retail and leisure space; 186 car parking slots; a 5,000sq ft members' club-style hub and a landscaped rooftop garden covering over 20,000sq ft.Nikal’s managing director Nick Payne said: "Exchange Square is a development of both regional and national importance due to its location within a major area of investment and regeneration right next door to the proposed HS2 terminal."Now that planning consent has been secured we are in a position to bring forward the first phase of what we are sure will be an exemplar scheme for Birmingham's residential market."Construction work is expected to begin in mid-2016, with completion of the first block scheduled in 2018 and the final block before the end of 2019.
Royal Bam Group subsidiary Wayss & Freytag Ingenieurbau has secured a contract for the construction of a €220m subway tunnel in Frankfurt. The 2km double-track tunnel will be built in the city centre, in the new Gateway Gardens district.The cut and cover tunnel will be about 11m wide and 6m high. Wayss & Freytag Ingenieurbau will move approximately 900,000 sq m of land and will process 180,000 sq m of concrete.Gateway Gardens is a new development situated close to Frankfurt Airport and houses offices, service areas, hotels, conference and exhibition spaces,, and restaurant and retail facilities.The Gateway Gardens Tunnel is expected to be operational at the end of 2019.
North Point Global has begun construction work on a £200m project to transform Liverpool’s Chinatown. Designed by BLOK Architecture, the project to revamp Europe’s oldest Chinese community will include the creation of 850 new homes, 150,000 sq ft of new commercial and retail space, and a new hotel.The commercial and retail space will house China-based businesses, and a significant number of units have already been bought by Chinese businesses seeking a foothold in the UK.North Point global chairman David Choules said: "From the outset we wanted this scheme to be an authentic Chinese development that brought new commercial energy and entrepreneurialism into the heart of an historic Chinatown."This is not only something unique in the UK, it will be something unique outside China itself."Phase 1 of the Chinatown’s transformation will be built by BILT Group and Scottish Power and is expected to be complete before the end of 2017, while the entire project is slated to be complete in 2019.
UK based housebuilding company Keepmoat has announced that the housing development Mandale Park in Stockton is nearing completion after 11 years.In 2004, the Mandale Estate compromised 578 homes, half of which were unoccupied, as well as three retail units and a community centre. Stockton Council, Barratt Homes, ISOS Housing and Keepmoat Homes entered into an agreement to transform the area building 891 new homes, 641 of which were to buy and 250 available for rent.The project, which entailed an investment of £120m, also includes the £1m Allison Trainer park, named in honour of the councillor who played a pivotal role in bringing the investment to the area.Keepmoat North East regional managing director Richard Bass said that prior to the redevelopment properties on the estate were sold for an average of £13,500 and that now new homes on the estate are reaching prices over £150,000. Keepmoat has built 445 new dwellings as part of the £90m regeneration scheme.Construction of the 333 Barratt Homes created 945 jobs, 95% of which were filled by local people from within a 10-mile radius of Thornaby.Barratt Homes North East managing director Mike Roberts said: "In 2004, the Mandale Estate was in a dire state of repair, with almost half of the 578 units of residential accommodation in the area unoccupied."Since then however, it has been amazing to see the regeneration of not only the estate, but of the area as a whole, not to mention the annual benefit to the local economy of £1m in council tax and over £6m in spend in local shops."Now out of the 333 properties we have built, there are only two left to purchase, and there is now a fantastic community of happy homebuyers on the site. We are really proud of what we have managed to achieve and the positive impact this has had on the area."
Westminister Council has approved a £1bn plan to redevelop the Whiteleys shopping centre in west London.A joint venture between a Meyer Bergman-advised fund and Warrior Group has submitted a planning application to Westminster City Council redevelop the former Whiteleys department store in Bayswater.Designed by Foster + Partners, the mixed-use project will include more than 500,000 sq ft of homes and shops built behind the existing 1911 facade.It will include the construction of more than 100 homes, a mixture of apartments and townhouses. These will be arranged around an inner courtyard with new retail units, a boutique hotel, gym and other enhanced leisure facilities, including a new cinema at basement level.