Hammerson and Hermes Property Asset Management this morning submitted a planning application for Shires West, their ÃÂ£200m retail-led mixed-use scheme for the centre of Leicester. The application comprises 530,000 sq ft of retail, 42,000 sq ft of bars and restaurants, 37,000 sq ft of other leisure use, 118 residential units and 1,000 car parking spaces.
The development will cost ÃÂ£100m to construct and the floor area, when coupled with the neighbouring Shires shopping centre, will total 1.1m sq ft. The increased mixed-use space is intended to win back shoppers after Leicester fell out of the top 10 UK shopping centres to 16th place in the Experian rankings in 2002.
A 220,000 sq ft department store of up to four levels has been included in the application, and will benefit trade by providing access to other retailers and leisure units outside the store. John Lewis is one of the favourites to occupy the building. The developers are hoping that the project will attract the likes of Nike, Sephora and Pilot to the city.
Hammerson and Hermes have taken 18 months to complete the application, modifying it in the process to address concerns of design watchdog, The Commission for Architecture and the Built Environment. If the application is successful, construction will take place in Vaughan Way and St Peters Land to the west of the city.