St David’s 2,
Cardiff

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.

 

Trinity,
Leeds

Busy city shopping centre to be integrated with The Plaza.

 
 

Table 4: Retail development pipeline at 30 September 2009

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 completed
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
Residential 18,740
The Elements, Livingston Retail 100 32,000 78 8 Oct 2008 166 166
Leisure 5,670
Developments approved and those in progress
St David’s, Cardiff – Retail/
50 89,900 50 15 Oct 2009 292 337
St David’s Partnership – Leisure


a limited partnership with Residential 16,500
Capital Shopping Centres
PLC
Proposed development
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
Net income/ERV represents headline annual rent payable on let units plus ERV at 30 September 2009 on unlet units.

 
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