Stanhope has signed a development agreement with Wiltshire Council for the first phase of the Maltings retail scheme in Salisbury.
Under the agreement, Stanhope will deliver the £75m first phase of a 250,000 sq ft mixed-use scheme at the 21-acre site, which currently comprises a 40,000 sq ft Sainsbury’s supermarket and car park.
Stanhope’s emerging proposals include retail and leisure opportunities, residential units, riverside public realm improvements, new employment and a multi-storey car park.
Wiltshire council selected Stanhope as its development partner in May 2012.
Stanhope director Gary Bourne said: “We are absolutely committed to working with the council and local community to deliver a scheme sensitive to the city’s unique heritage.
“By complementing and improving Salisbury’s existing retail offer we will drive growth and benefit the whole city.”
Councillor Fleur de Rhe-Philipe, Wiltshire Council’s cabinet member for economy, skills and transport, said: “Not only is this development vital for the city’s economy, it also underlines Salisbury’s position as a major retail centre…and renowned tourist destination.”
Stanhope is represented by Strutt & Parker on the scheme. DTZ act for Wiltshire Council.