British Land announces that it has signed an agreement with Plymouth City Council to develop Drake Circus Leisure, a circa 100,000 ft² (9.290 m²) leisure scheme next to its 570,000 ft² (52.954 m²) Drake Circus Shopping Centre in Plymouth city center. The €51 million development will include a 12 screen cinema operated by Cineworld, 13 restaurant units and 450 car park spaces. The site currently houses a coach station which will be relocated.
A detailed planning application for the scheme is now being developed and will be submitted in early 2015.
The leisure development will complement Drake Circus Shopping Center, broadening its appeal, establishing it as an evening destination and extending its trading hours. Since its acquisition by British Land in 2011, Drake Circus has successfully attracted a range of brands, including Apple, Fat Face and Yo! Sushi.
David Pollock, Retail Development Director for British Land, said: “Plymouth has a very strong local catchment, and a vibrant and successful city center, which will be further enhanced by our investment. The proposed leisure scheme creates an opportunity to take Drake Circus to the next level, and with a number of new brands added, is a very strong example of our strategy to create Places People Prefer. We are delighted to be working with Plymouth City Council on this project to establish Drake Circus as the West Country’s retail and leisure destination of choice.”
Plymouth has a large and affluent catchment of 560,000 people and benefits from a thriving tourist trade which welcomes 3.4 million visitors annually.
Source: British Land