Work stepped up on £70m scheme
Published Date:
21 August 2008
CONTRACTORS are working round the clock to complete work on a £70m mixed-use scheme before Christmas.
Some 380 staff are working double shifts to make sure that the Broad Gate scheme, in Leeds, is completed on time.
Earlier this year, property fund manager Highcross bought the former Lewis's and Allders department store building from Capital and Counties.
When completed, Broad Gate will provide 168,750 sq ft of Grade A office accommodation and four large prime retail units. It will also provide the largest office floor plates in Leeds, at around 36,000 to 39,000 sq ft.
With a flexible design around three cores and a central atrium with connecting bridge, the floors can be let as a whole, or sub-divided into four sections.
A penthouse office suite at the top of the building, which has panoramic views over the city and comes with its own lift, completes the scheme.
Highcross director Richard Pellatt said: "When we took over the development, we realised we'd have to step up the work to get it completed in time for Christmas shopping.
"We hope to finish the retail side by October and the offices should be ready for occupation in January."
Since Highcross took over the project, work has been gathering pace. The building is now waterproof with glass curtain walling on one side and all the windows have been installed. The atrium is also complete, the roof lights are in place, and the floors are starting to be fitted out.
The office space was originally planned as residential apartments but 18 months ago developers changed the plans after realising there was more need for office space.
Three firms are in the process of signing up to the offices. Three of the retail units, which total 121,086 sq ft, are already pre-let to TK Maxx, Argos and Sainsbury's, with one 32,715 sq ft unit remaining.
Mr Pellatt added: "Leeds is growing so rapidly that there is a shortage of space. Broad Gate has an advantage over other schemes because work had already started when the credit crunch kicked in, and I think we have ridden out the worst of it.
"Other schemes are still not on site because build costs are going through the roof. The Olympics in London are also having an effect because contractors have put their costs up."
Broad Gate is located on the Headrow, which is being systematically re-developed from west to east, with a new retail quarter planned by Hammerson and Town Centre Securities just to the east of Broad Gate, and a further scheme to the south by Caddick and Land Securities.
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Last Updated:
21 August 2008 12:20 PM
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Source:
n/a
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Location:
Yorkshire