Southampton City Council is looking for a development partner for the £50m regeneration of a city centre site.
Plans for the site, which is just under one acre in size and is in Southampton’s designated ‘cultural quarter’, must include an arts complex within a mixed use scheme.
The developer will work with the council on the site, which was formerly a Tyrrell & Green store on Above Bar Street. It may also be able to incorporate council-owned land next door into the scheme.
The value of the scheme, according to the tender published in the Official Journal of the European Union, could be between £25m and £50m.
As part of the development agreement, the council will grant a 999 year leasehold on the site to the developer with a long lease back to the council for the arts complex.
Savills is advising.