Lingfield signs £25m deal with MOD for garrison development
BIRMINGHAM based Lingield Securities has signed a £25m agreement with the MOD to create up to 120,000 sq ft of retail and leisure space, a hotel and almost 300 car parking spaces at Catterick Garrison.
Defence Estates, part of the MOD with responsibility for managing and maintaining land and properties, has signed the agreement to develop the latest phase of a new town centre at the 3.5 hectare site in North Yorkshire.
A specialist in creating sustainable business and leisure schemes, including Kings Square Shopping Centre in West Bromwich, Lingfield Securities’ proposal outlines a town centre development for the major British Army base.
Geoff Dixon, of Defence Estates, said: “Defence Estates’ first priority is supporting our Armed Forces.and their families. We look forward to working with Lingfield Securities to ensure that a sustainable community for the soldiers, their families and local population is delivered at no cost to the MOD budget.
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“Lingfield Securities’ appointment as the developer is testament to the calibre of the proposals submitted for the scheme. In a trying economic climate we welcome the vote of confidence that this substantial private sector investment into Catterick represents.”
Property consultancy GVA Grimley acted as consultants in the selection of the chosen developer.
Paul Brewer, retail director at GVA Grimley, said: “With a strong track record in town centre development, we are delighted with Lingfield Securities’ innovative proposals and we are already seeing major interest from large national retailers looking to gain representation within the scheme.”
The scheme’s masterplan has outline planning consent and detailed planning consent will be sought early next year, with work on site expected to start later in 2012.
Jonathan Hart, chief executive of Lingfield Securities, said: “The Catterick Garrison site presents an exciting opportunity for the delivery of a town centre with quality public space that will add value to the surrounding community.
“The area has recently seen major regeneration with the opening of Catterick Leisure Centre last year and substantial expansion works to the Tesco store adjacent to the site just completed.
“With linkages to these sites already incorporated into the plans, the entire scheme is set to complement and add to the vitality of the retail and leisure offer available throughout North Yorkshire and the Dales.”
