Development agreement signed for £150m Watermark WestQuay scheme
22 February 2010
Southampton’s £150m flagship development – Watermark WestQuay will include a public plaza by the medieval town walls, which will help to form a spectacular backdrop to the development. The plaza will include a new a continental-style café and restaurant quarter, with up to 24,000m2 of retail space, a luxury cinema, a pocket park, hotel and a landmark residential building comprising up to 240 apartments.
Southampton City Council and developers Hammerson have signed the development agreement – which reaffirmed their commitment to making this happen.
Watermark WestQuay is the centre piece of a host of major developments planned for the city, with more than £800 million planned developments planned over the next few years.
Councillor Royston Smith Cabinet Deputy Leader said: “In these difficult times we are still moving forward with our flagship development Watermark WestQuay and we are delighted that we have entered into the next major phase with Hammerson - the signing of the development agreement.
“This is the chance we have been waiting for to transform this site into one of the most exciting and attractive new mixed-use developments in the UK. The development will reinvigorate the city and create 1000 new jobs.
“We have now got some exciting times to look forward to in Southampton.”
The signing of the agreement follows approval of the outline planning application in April last year and is a legal commitment by Hammerson and the city council to work together to develop Watermark WestQuay.
Russell Beresford, Development Manager for Hammerson, commented: “Formalising the development agreement is the latest milestone for the scheme and is a fundamental part of the project’s delivery. Following months of hard work, it demonstrates commitment from both sides to the continued regeneration of the city centre."
Image shows: Computer generated image of Watermark WestQuay
Image copyright: Hammerson plc and Foreign Office Architects
For further information:
Contact: Southampton City Council Press Office
Tel: 023 8083 2000
