St David’s 2,
Opened October 2009, this mixed-use scheme has transformed Cardiff city centre and showcases the best of the UK high street in its two level grand arcade.
Busy city shopping centre to be integrated with The Plaza.
Table 4: Retail development pipeline at 30 September 2009
cost to date
|Shopping centres and shops|
|Willow Place, Corby||Retail||100||16,260||83||2||Oct 2007||42||42|
|Cabot Circus, Bristol –||Retail||50||83,610||90||17||Sept 2008||257||257|
|The Bristol Alliance –||Leisure||9,000|
|a limited partnership|
|with Hammerson PLC
|The Elements, Livingston||Retail||100||32,000||78||8||Oct 2008||166||166|
|Developments approved and those in progress|
|St David’s, Cardiff –||Retail/
|St David’s Partnership –||Leisure|
|a limited partnership with||Residential||16,500|
|Capital Shopping Centres|
|Trinity Quarter, Leeds||Retail||75||92,900||PR||n/a||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 2009. 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
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 finance charges, less residential costs (totalling £32m across all categories of development).
Net income/ERV represents headline annual rent payable on let units plus ERV at 30 September 2009 on unlet units.