Development pipeline
2008Cabot Circus,
Cabot Circus,
Bristol
High quality development due for full completion autumn 2008.
2008The Elements,
The Elements,
Livingston
Transformation of retail in Livingston, due for completion autumn 2008.
2009St David’s 2,
St David’s 2,
Cardiff
Major mixed-use development incorporating urban regeneration.
2012Trinity Quarter,
Trinity Quarter,
Leeds
Busy city shopping centre to be integrated with The Plaza.
Retail development pipeline at 31 March 2009
| Property | Description of use |
Ownership Interest % |
Size m2 |
Planning status |
Letting status |
Income/ ERV £m |
Estimated/ actual completion date |
Total develop- ment cost to date £m |
Forecast total develop- ment cost £m |
| Shopping centres and shops | |||||||||
| Developments completed | |||||||||
| Willow Place, Corby | Retail | 100 | 16,260 | 83 | 2 | Oct 2007 | 42 | 42 | |
| Cabot Circus, Bristol – | Retail | 50 | 83,610 | 91 | 17 | Sept 2008 | 257 | 257 | |
| The Bristol Alliance – a limited | Leisure | 9,000 | |||||||
| partnership with Hammerson | Residential | 18,740 | |||||||
| The Elements, Livingston | Retail | 100 | 32,000 | 80 | 8 | Oct 2008 | 166 | 166 | |
| Leisure | 5,670 | ||||||||
| Developments approved and those in progress | |||||||||
| St David’s, Cardiff – St David’s | Retail/Leisure | 50 | 89,900 | 28 | 17 | Oct 2009 | 240 | 347 | |
| Partnership – a limited partnership with Liberty International | Residential | 16,500 | |||||||
| Proposed development | |||||||||
| Trinity Quarter, Leeds | Retail | 75 | 92,000 | PR | n/a | n/a | 2012 | n/a | n/a |
| Retail warehouses | |||||||||
| Developments, let and transferred or sold | |||||||||
| Angel Road Retail Park, Edmonton | Retail | 100 | 3,480 | 100 | 1 | Mar 2009 | 19 | 19 | |
- Floor areas shown above represent the full scheme whereas the cost represents our share of costs. Letting % is measured by ERV and shows letting status at 31 March 2009. Trading property development schemes are excluded from the development pipeline. Cost figures for proposed schemes are not given as these could still be subject to material change prior to final approval.
- Planning status for proposed developments
PR – Planning Received - Total development cost (£m)
Total development cost refers to the book value of the land at the commencement of the project, the estimated capital expenditure required to develop the scheme from the start of the financial year in which the property is added to our development programme, together with finance charges. - Net income/ERV
Net income/ERV represents headline annual rent payable on let units plus ERV at 31 March 2009 on unlet units.