Cabot Circus, Bristol
  • 2008

Cabot Circus, Bristol

Opened successfully and now established as a landmark addition to Bristol.

 
The Elements, Livingston
  • 2008

The Elements, Livingston

Now opened and part of The Centre, a major regeneration of retail in Livingston.

 
St David’s 2, Cardiff
  • 2009

St David’s 2, Cardiff

Opened to acclaim last year and continuing to attract new lettings.

 
Leeds Trinity
  • 2012

Leeds Trinity

Vibrant new retail space in the heart of Leeds.

 
 
 

Table 34: Retail development pipeline at 31 March 2010

Property Descrip-
tion
of use
Owner-
ship
Interest %
Size
sq m
Planning
status
Letting
status
%
Net
income/
ERV
£m
Estimated/
actual
comple-
tion
date
Total
develop-
ment
cost to date
£m
Forecast total
develop-
ment
cost
£m
Shopping centres and shops
Developments, let and transferred or sold
Willow Place, Corby Retail 100 16,260 94 2 Oct 2007 42 42
Cabot Circus, Bristol Retail
50 83,610
95 16 Sept 2008 269 269
Leisure 9,000
Residential 18,740
Developments completed
St David’s, Cardiff Retail 50 89,900 61 15 Oct 2009 323 357
Residential 16,500
The Elements, Livingston Retail 100 32,000 78 8 Oct 2008 166 166
Leisure 5,670
Proposed developments
Trinity Quarter, Leeds Retail 100 70,000 PR 32 n/a 2012 n/a n/a
The Atlas Site, Glasgow Retail 100 10,660 n/a 2013 n/a n/a
Residential 4,180
Retail warehouses and
food stores
Developments approved
and those in progress
Almondvale South Retail Park Food store 100 8,360 100 1.6 May 2011 12 17
Sainsbury, Lincoln Food store 50 10,870 100 1.1 Dec 2010 12 15
Proposed developments
Sainsbury, Wandsworth Food store 50 9,850 MG 58 n/a 2012 n/a n/a

Floor areas shown above represent the full scheme whereas the cost represents our share of costs. Letting % is measured by ERV and shows letting status at 31 March 2010. Trading property development schemes are excluded from the development pipeline. Cost figures for proposed schemes are not given as these could still be subject to material change prior to final approval.

Planning status for proposed developments
PR – Planning Received
MG – Minded to Grant

Total development cost (£m)
Total development cost refers to the book value of the land at the commencement of the project, the estimated capital expenditure required to develop the scheme from the start of the financial year in which the property is added to our development programme, together with capitalised interest. The figures for total development costs include expenditure on the residential elements of Cabot Circus, Bristol (£12m) and St David’s, Cardiff (£20m).

Net income/ERV
Net income/ERV represents headline annual rent payable on let units plus ERV at 31 March 2010 on unlet units.

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