Town Centre Securities PLC
14 January 2008
For Immediate Release 14 January 2008
TOWN CENTRE SECURITIES PLC
MARKS & SPENCER TO OPEN NEW FLAGSHIP LEEDS STORE
MARKS & SPENCER has announced plans to create one of the retail giant's largest
stores outside London to anchor the new Eastgate Quarters development in Leeds.
The company has agreed terms on 18,250m(2) square meters of trading space with
The Leeds Partnership, which is developing the retail-led scheme in a 90:10
joint venture between Hammerson plc and Leeds-based Town Centre Securities plc.
The new store will complement Marks & Spencer's existing Briggate store in
Leeds, and will include a complete range of womenswear, menswear, childrenswear,
as well as a full home offering, food hall with bakery and restaurant.
The Leeds Partnership gained planning permission for the £800 million
development, located in the Eastgate and Harewood Quarters of the city, in
February 2007. The scheme will include more than 100 retail units across 110,000
m(2) as well as restaurants and bars, a hotel, office accommodation, up to 600
new homes and 2,700 associated car parking spaces. The development will also be
anchored by a 26,000 m(2) John Lewis store. It is anticipated that construction
of Eastgate Quarters will begin in 2009, with completion in 2012.
John Richards, Chief Executive of Hammerson, said:
'I am delighted that one of the UK's most successful retailers has committed to
our scheme. This is a major step forward in our bid to bring a retail offer of
the highest quality to the people of Leeds and the surrounding areas. Securing
Marks & Spencer as an anchor tenant is a great coup for the development.'
Edward Ziff, Chairman and Chief Executive at Town Centre Securities plc said:
'Marks & Spencer's decision to open a new store in Leeds gives a real boost to
our plans for the city. We have been closely involved in Leeds for many years
and are pleased to increase that involvement through the development of this
exciting scheme.'
Iain Perkins, Marks & Spencer Divisional Executive, said:
'The Eastgate Quarter will be a fantastic shopping environment. We are delighted
to be anchoring the development with a brand-new M&S that will complement our
existing Briggate store and strengthen the M&S offer across Leeds.'
ENDS
For further information, please contact:
Town Centre Securities PLC www.tcs-plc.com
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Edward Ziff, Chairman and Chief Executive 0113 222 1234
Karen Prior, Finance Director
Smithfield 0207 360 4900
Reg Hoare / Miranda Good
Notes to editor
Hammerson plc is a FTSE-100 Real Estate Investment Trust which operates
principally in the retail sector. Its £7.5 billion portfolio, which provides 1.3
million m(2) of retail space and 320,000 m(2) of offices, includes 14 major
shopping centres and 18 retail parks. Hammerson has a track record of
successfully carrying out major city centre regeneration projects. Recent
award-winning developments include Bishops Square in London and Bullring in
Birmingham. The Company is currently working with several councils to deliver
retail-led mixed-use regeneration projects in cities including Aberdeen,
Bristol, Leeds and Leicester. For more information, visit www.hammerson.com.
Town Centre Securities plc is a property investment and development company
based in Leeds and is one of the city's major property investors. The company
portfolio exceeds £450 million with core activity centred in Leeds and
Manchester. Town Centre Securities has recently been awarded best mixed use
development for its regeneration of the Piccadilly Basin site in Manchester by
Property Executive. For more information, visit www.tcs-plc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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