PRESS RELEASE - June 08
JOHN LEWIS SECURED FOR LEEDS RETAIL SCHEME
The John Lewis Partnership has signed an Agreement for Lease with The Leeds Partnership at its 140,000m2 (1.5 million sq ft) Eastgate Quarters scheme in Leeds city centre.
The Leeds Partnership, a joint venture between Hammerson plc and Leeds-based Town Centre Securities plc has secured what will be the largest John Lewis in the area as one of its anchor stores.
The 25,500m2 (275,000 sq ft) flagship store will be the first in the city for the retailer and will offer a full range of fashion, homeware, advice services and customer catering facilities.
Designed by ACME Space, the new store will be the third John Lewis within Hammerson’s city centre retail development portfolio following stores planned for Sevenstone, Sheffield and Highcross, Leicester due to open this September.
The £800 million development will also be anchored by a full offer 18,250m (196,000 sq ft) Marks & Spencer.
Eastgate Quarters, located between the civic quarter and the existing retail district will comprise three distinct retail areas. The project will create more than 100 new shops together with a restaurant district and up to 600 new homes.
Planning permission for the development was granted in February 2007 and the Leeds Partnership is currently developing detailed designs for the scheme, following the appointment of its architectural team earlier this year.
It is anticipated that construction of Eastgate Quarters will begin in 2009, with completion in 2012.
David Atkins, Managing Director, UK Retail commented: “Securing John Lewis and Marks & Spencer as anchor tenants is an exceptionally powerful combination for both retailers and consumers. The strength of the retail offer combined with dynamic architecture, ensures Eastgate Quarters will become a thriving and successful part of the city.”
Edward Ziff, Chairman and Chief Executive at Town Centre Securities plc said: “As one of the UK’s core cities, Leeds has sadly lacked a department store of the quality and standing of John Lewis for a number of years. This combined with a full store offer from M&S will help push Leeds back up the retail league”.
Jeremy Collins, Head of Retail Development at John Lewis, said: “We are pleased to conclude our Agreement with the Leeds Partnership, a major milestone for John Lewis to securing a shop in Leeds, and ending a search lasting over 30 years. We have been attracted to the project by the quality of its planning and design, and by the breadth and quality of the retail offer which is being created. With the strong pedestrian links to the Headrow, Briggate, Vicar Lane and the Victoria Quarter, the project represents a natural and logical extension of the existing prime retail core of the city centre. We have also been by encouraged by the tremendous support and encouragement we have received from the City Council.”
Cllr Andrew Carter, deputy leader and executive board member with responsibility for development said: “This confirmation that John Lewis has signed the lease on its space at Eastgate Quarters is a significant moment for the city. The fact that its store in Leeds will be the largest in the area says a lot about the confidence they have in investing in our city. John Lewis is a company which is renowned for being an exceptionally good employer - and the new store will improve job prospects for people here. I’m pleased there’s so much interest in what we’re doing in Leeds.”