DEVELOPERS are seeking tens of millions of pounds in capital investment for a retail and leisure complex next to York's community stadium, The Press can reveal.
Talks are understood to be at an advanced stage, with a number of big-name high street stores and leisure providers interested in taking space in the Vangarde Way shopping and leisure park at Huntington.
The Press that can reveal that, if the investment can be found, the scheme is set to involve a 13-screen cinema, including a giant Imax screen, as well as major clothes retailers and well-known food and drink providers.
The planned stadium on the right, and the proposed further development to the left
These exclusive computer generated images show that the complex, situated to the north-west of the existing Marks & Spencer store and Giraffe restaurant, would dwarf the proposed new community stadium.
An impression, with the proposed development in the top left of the image. The existing Vangarde site is in the right of the picture
A brochure being sent to potential investors says construction work is due to start next March with completion targeted for the first quarter of 2017.
It says the development is situated within one of the UK's top regional shopping and leisure destinations and is located in a highly accessible position, just a mile south of the York Outer Ring Road and the A64.
It reveals that research has shown the development has a catchment population of more than half a million people and is 'exceptionally affluent,' making the project highly attractive to would-be investors.
It says the developer is Wrenbridge Sport and Greenwich Leisure Ltd, with Wrenbridge helping to fund the stadium scheme through the retail, cinema and restaurant development.
The Press reported in September last year how council papers had revealed that the Vangarde park was set to house a cinema, two restaurants, and more than 4,000 sq m of shop floor space, as well as swimming pools to replace Waterworld, a gym, outdoor sports pitches, and community facilities.
A council spokesman said then that the team behind the stadium project were in talks with a number of potential operators who could take on the cinema once it is built, but in the meantime few details were available.
There is nothing unusual about this. There are long, complex and detailed negotiations that have to take place with any major project of this nature. It is quite normal for developers to pull together a project; obtain planning permission; seek expressions of interest from retailers and others; and only then go out to seek capital investment.
Readers can be forgiven for thinking that, while all these behind-the-scene discussions are going on, nothing much is happening.
We are pleased, therefore, to be able to reveal that things are very definitely moving on this huge retail scheme, and the community stadium development which is an integral part of it.
For reasons of commercial sensitivity, we cannot reveal details of the retailers and leisure organisations who have so far expressed an interest.
What we can say is that they include major clothes retailers and well-known food and drink suppliers. The development could also involve a 13-screen cinema, including a giant Imax screen.
Providing the investment can be found, construction work is expected to start next March, with completion expected in early 2017.
Watch this space.
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