Site assembly could begin shortly on a new retail scheme which is on course to deliver more than 10,000 sq m of prime retail space in the centre of Plymouth.
Plymouth City Council is expected to back the compulsory purchase of elements of Colin Campbell Court, a key development site at the western end of New George Street, the city's prime pitch. Work could start next year on the£40 million scheme, with completion set for 2006.
A development agreement between the council and Colesbourne Asset Management, which acquired the scheme from Frogmore for what is believed to be£4 million, is already in place.
Colesbourne Asset Management managing director Tom King said that the centre 'will go some way in satisfying several national retailers wanting a presence in Plymouth'.
Colin Campbell Court will provide an anchor store, unit shops and 2,225 sq m of leisure space. Drew Pearce and Churston Heard are appointed as the scheme's letting agents. Bank of Scotland has a 50 per cent stake in Colesbourne Asset Management.
No comments yet