Stanhope sign £60m King's Quarter agreement
SIGNED, sealed – and now its time for Stanhope plc to deliver.
The developers yesterday inked in their agreement for the £60million development of King's Quarter.
The project will see an additional 200,000 sq ft of retail development including an anchor store, over 30 new shops, restaurants, new public squares and a new bus station.
Stanhope plc representatives were joined by council officials yesterday to officially sign the agreement which will see the city centre completely revamped.
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Martyn Chase, a director at Stanhope, said: "This puts us in a very important place.
"Having signed the agreement we are expecting interest from potential retailers to intensify.
"We have already had a lot of interest but this shows that we are serious, this shows that this is real.
"It shows investors it is real, it shows retailers it is real and it shows the people of Gloucester it is real."
Gloucester city council leader Paul James said: "We have said from the start that this is the single most important aspect of regeneration in changing the perception of the city.
"For years people have complained to me about the bus station and the lack of retail in the city, and this is addressing both those issues.
"It will enable us to attract the retail we need at the moment. It is really exciting."
Shoppers in the city are equally excited about the agreement.
Ellen Rochester, 16, from Gloucester said: "I think it is good they are doing something new.
"Kids my age always say how shopping in Gloucester could be better."
John Percy, from Gloucestershire, said: "This is so badly needed.
"This is the worst shopping area I have ever been to, so new shops are very welcome.
"I just hope there is enough business here to attract retailers. We don't want to see empty units."
Barry Edwards, 73, from Coney Hill, said: "I don't think King's Square is OK at the minute actually.
"As long as they get it right it should be great."
Meanwhile, Ray Armishaw said: "It should be left alone, the council have been killing this city for years."