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.
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Council leader Paul James and Martin Chase from Stanhope sign the deal
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."
Comments
by FreeRadical1
Saturday, September 29 2012, 3:09PM
“bdbear,
So, the council don't have a lot of say in it? Really? They own much of the land that will be redeveloped AND they have to give planning permission. Why do we even bother to vote, I wonder. The council just do as developers tell them.
As for the Golden Egg, it is still owned by Aviva, but will probably be purchased at some inflated price so that the scheme can go ahead.”
by SELINA30
Friday, September 28 2012, 8:50PM
“What exactly is it that the council have signed away and for how much?”
by TheMoanerLisa
Friday, September 28 2012, 8:37PM
“Free Radical 1 - Kings Square is a squalid pit and attracts scruffy pensioners and spotty goths with a few chavs and street drinkers thrown in. The "market" is full of out of town traders selling cheap clothing and tat. Its a disaster. It will be a loss to the previously mentioned rabble but the replacement will attract those with money to spend who currently spend it anywhere but Gloucester.”
by bdbear
Friday, September 28 2012, 8:02PM
“Freeradical There has not been an ice rink in the centre for at least 2 years we then had a wooden pavilion and last year nothing . Since the fountains have gone the space in the square has never been really used . Stanhope are putting in a small square and and I am sure the will put on things in there to attract shoppers like at the Quays . It would be good if the space was mixed us with offices and flats as well but the council dont have a lot of say in it as the developer is taking the finacial risk , as for knocking down fine historic buildings where around that area are there any left all I can see by the drawings is the concrete mess being replaced by we hope someting that will last and be off better quality than the last lot the only disappointing things I can see are to many mature trees going and the old carpark still standing”
by Beekeeper
Friday, September 28 2012, 4:16PM
“Any chance of pulling down The Golden Egg sometime soon?”
by FreeRadical1
Friday, September 28 2012, 3:28PM
“I agree with Ray Armishaw about the development of King's Square. Nearly all of it will be built on. Given that this is the only large open area in central Gloucester, it will be a great loss. They won't be able to hold markets or any other event that requires space. You'll never get an ice rink again, for instance. Do you like Christmas markets? There won't be room for a decent sized one.
Why is Gloucester City Council obsessed by retail dvelopment anyway? Shouldn't there be a balance between retail, office, leisure and residential?
BTW, I have it on good authority that the development will not be completed till the end of 2017, so some of you may have a long wait for your new shopping opportunities.”
by windy_pants
Friday, September 28 2012, 3:05PM
“With NibNobs on the free parking but I would like 3 hours as 2 hours is a rush sometimes if having an overpriced coffee.”
by AHayden
Friday, September 28 2012, 1:33PM
“Superb news! Gloucester is starting to pull its weight and long may it continue!”
by NibNobs
Friday, September 28 2012, 12:33PM
“I trust we can expect pressure by the developers to the council to offer FREE parking for shoppers (2 hours minimum) to encourage people like me away from local out-of-town shopping areas, the ever increasing number of supermarkets, Cribbs Causeway and on-line shopping with lower prices & free delivery.”
by Bonkim2003
Friday, September 28 2012, 11:58AM
“Good luck, hope there will be takers for the shop-space created.”