Hammerson and Town Centre Securities have agreed terms with Marks & Spencer to anchor their proposed 1.5m sq ft Eastgate scheme in Leeds.
M&S has signed up to take a 196,443 sq ft fashion, homeware and food store at the mixed use scheme in the Eastgate and Harewood Quarters of the city joining anchor John Lewis.
The scheme, to be developed in a 90:10 joint venture, includes 1.1m sq ft of retail.
It will comprise over 100 retail units, restaurants and bars, a hotel, office accommodation, up to 600 new homes and 2,700 associated car parking spaces.
To open in 2012
Work will start on site next year to open in 2012.
John Richards, chief executive of Hammerson, said: ‘ This is a major step forward in our bid to bring a retail offer of the highest quality to the people of Leeds and the surrounding areas.’
A coup for the development
‘Securing Marks & Spencer as an anchor tenant is a great coup for the development.'
Iain Perkins, Marks & Spencer divisional executive, said’ 'The brand-new M&S will complement our existing Briggate store and strengthen the M&S offer across Leeds.'
Marks & Spencer's existing Briggate store will become the principal anchor to the Trinity Leeds scheme in the city. Work on the Trinity Leeds development is due to begin shortly and will be delivered in 2010.