AM Development, the Dutch property company, is expected to be named preferred developer for a 500,000 sq ft retail scheme in Wolverhampton. Wolverhampton City Council is expected to announce its decision on Tuesday.
AM is tipped to beat three other shortlisted rival bidders - St Modwen, Wilson Bowden and a joint venture between London & Cambridge Properties and Centros Miller. It is understood that the council is going for AM because it believes the company will produce a scheme with a more European feel than its rivals.
The development site is located at Cleveland Street, to the south of Wolverhampton City Centre. As well as the retail element, the scheme will provide 250 flats, bars, restaurants and a car park.
AM is also developing the £270m Victoria Square scheme in Belfast, which comprises 807,300 sq ft of mixed-use space, 600,000 sq ft of which is retail and leisure.
Drivers Jonas is advising the council. Donaldsons is advising AM. Wolverhampton City Council declined to comment ahead of next week´s announcement.
Source: Freeman News/ Property Week