The real estate group announces that it has secured enough pre-let agreements to start work on the Leeds project
Land Securities will start work on its £350m Trinity Leeds shopping centre development, after securing pre-let agreements for 43% of the space, the company announced today.
The 750,000 ft2 project has been signed off after securing Land Securities’ minimum target level for pre-lets. Another 4% of floor space is currently in solicitors’ hands.
Retailers signed up to the project include Next, Top Shop, River Island and Hollister.
A construction contract is expected to be signed imminently, with the new centre scheduled to open in spring 2013.
Talks are also progressing on a possible joint venture over 20 Fenchurch Street, Land Securities’ Q1 Interim Management Statement indicated. No date was given for when talks on the so-called Walkie Talkie would come to an end.
Francis Salway, Land Securities chief executive, said: “The themes in the first quarter continue to mirror the priorities we outlined with our full year results: delivering a substantial development pipeline for completion in 2012/13 and maintaining a strong focus on actions to grow revenue profit in the medium term.
“We have gained momentum on lettings, sales and development in the quarter and today we have announced the commencement of the 750,000 sq ft Trinity Leeds retail scheme.”