Final unit secured at Foss Islands Retail Park
BED specialist Dreams has taken the remaining unit at Foss Islands Retail Park in York as part of its £1m investment in the region.
The letting marks an end to developer Keyland Gregory’s 11 year involvement in the former council depot site, which has been replaced by one of the largest retail parks built in the North within the last three years.
The 180,000 sq ft scheme has attracted retailers including Morrisons, its first supermarket in York, Homebase, Kutchenhaus, Pets at Home, Home Sense and Frankie & Benny’s.
Waitrose has opened its first store on the adjoining site.
Richard Tovey of Keyland Gregory said: “The quality tenant line up vindicates our confidence and vision for the site. Through our involvement we have had to overcome numerous hurdles, the land assembly was complex and time consuming, the council depot, dating back to Victorian times, had significant contamination issues which needed to be addressed and we had to relocate the waste depot into a brand new £8m eco facility, which is now the largest building of its kind in Europe.
“To create a successful retail environment we sought to improve the transport and pedestrian links to connect the development to the city centre.
“This was achieved, in part, by the creation of a link road between James Street and Heworth Green aimed at alleviating pressure on the inner ring road and within the park we provided a number of cycle and pedestrian routes to create a pleasant and vibrant shopping environment.
“The tall chimney which was integrated into the development next to the food store provides evidence of the site’s Victorian history.”
Mr Tovey added: “Regenerating one of the largest major brownfield sites in York centre was never going to be an easy but as well as creating over 200 much needed jobs, the development revitalised a former run down part of the city and brought excellent new facilities for the City of York.”
John Foster of Shulmans, who dealt with the legal work for the scheme, said: “It was one of the most complicated and fascinating legal deals I have ever had to work on involving eight different land holdings which all had to be assembled and purchased at the same time. Foss Islands is a great example of how imaginative property deals can bring long lasting benefits all round for the local population.”
The development was forward purchased by AXA in April 2006.
Keyland, the property arm of The Kelda Group, and The Gregory Property Group are experienced in complicated regeneration sites.
Gregory is currently involved in one of the largest regeneration schemes to start on site in Yorkshire this year with its 280,000 sq ft Broad Street Plaza Halifax project, progressed in partnership with Calderdale Borough Council and Yorkshire Forward.
