Thursday, 24 July 2014
Terrace Hill acquires strategic site in Burnley for major leisure development (UK)
Experienced leisure and retail developers, Terrace Hill, part of Urban&Civic plc, has acquired a major town center site from Burnley Borough Council for a new leisure based scheme.
The site, off Active Way and adjacent to Charter Walk Shopping Centre, is currently a surface car park but has been earmarked for development for a number of years since the former Pioneer Cooperative building was demolished. The sale of the council’s holding to Terrace Hill will trigger a planned multi million pound (multi million euro) leisure development.
According to Andy Lavin, Development Executive at Terrace Hill, a planning application for the site will be submitted by the end of the year, and it is anticipated that the final designs totalling 43,000 ft² (approx. 4,000 m²), will include space for six restaurants and a coffee shop in addition to a new nine screen cinema.
Adjacent to the Charter Walk shopping area, the scheme will provide a draw for visitors to this side of the town. An under croft car-park with a capacity for 287 vehicles will offset any loss of spaces caused by the development of the site.
Andy Lavin said: “The land around the old Pioneer building has been undeveloped for a number of years now. With the other revitalisation schemes taking place across the town this site really stands out as being in need of some attention.
Duncan McEwan, Head of Retail Development at the company, further added: “The requirement for alternative developments in town centres is clear as shopping habits have changed, and leisure is the obvious addition that will help to improve the dwell times of shoppers. A scheme such as this will bring in families and will provide vibrancy in the evenings and at weekends.
We are extremely pleased to have reached an agreement with Burnley Borough Council, and are confident that our strong track record in delivering this new offer will add real value to the town, its residents and visitors.”