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Hammerson to reignite Leeds retail development Monday, 16th July 2012
The proposed Eastgate Quarters development. Photo credit: Hammerson plc
After laying in wait for eight years, Hammerson’s stalled £600 million retail development in Leeds is thought to be back in business.
The sale will provide funds to invest in the first stage of the development, which is expected to be completed by 2016. The Independent reported that the scheme’s first priority will be the high-end and luxury aspects of the development, with a new John Lewis to sit at one end of the development, and the existing Harvey Nichols department store at the other.
Property agent DTZ has been hired to lease the Eastgate scheme, which will eventually provide over 1 million sq ft of retail property, creating around 4,000 permanent retail and leisure jobs.