“Initial enabling works on the site have begun with the main start on site scheduled for later this spring,” says a press release.
Scheduled to open in autumn 2016, Victoria Gate is going to be home to over 30 top-end retailers, six restaurants, a casino, a 21,000m2 John Lewis store and an 800-space multi-storey car park on the site of Millgarth police station.
According to Hammerson’s latest company results, “estimated annual income from the scheme is £10 million, of which 28% has been let or is in solicitors’ hands”.
You’d think that the lets already agreed for the casino and the John Lewis store would have taken them over 28%. Maybe someone’s getting a discount. Who knows.
Hammerson’s profit before tax increased from £142m last year to £341m for the year ended 31 December. Its shopping malls are at 97.7% occupancy and its first major retail development in France – a £381m shopping mall in the “regeneration” port area of Marseille – is scheduled to open in May.
Marseille was European Capital of Culture in 2013.
Coincidence or what?