Aviva Capital Partners, Southampton City Council and the University of Southampton have formed a joint venture to redevelop the former Toys ‘R’ Us site in the city.
The 4.6-acre site, which has been vacant since 2018, is located in the West Bay regeneration area next to Southampton Central railway station.
The WBS Growth Partnership joint venture has acquired the site and will redevelop it into a new mixed-use neighbourhood featuring new homes and office space. The partnership has appointed Stories as development manager for the project.
David Epstein, managing director, Aviva Capital Partners, said: “This project will create a vibrant neighbourhood right in the centre of Southampton, supporting local jobs, local businesses and driving the city’s growth. The partnership with Southampton City Council and the University of Southampton is another example of Aviva investing in the UK, helping the country get ready for the future.”
Alex Winning, leader of Southampton City Council, added: “For far too long, the former Toys ‘R’ Us site has stood vacant at one of the key gateways to our city. We are determined to transform this prominent location into a place that delivers real benefits for our residents creating new jobs, new homes and new opportunities for the people of Southampton. This new partnership marks an exciting first step in unlocking that potential and bringing this site back to life.”
Professor Mark E Smith, vice-chancellor of the University of Southampton, said: “This is a crucial site in Southampton with significant potential to drive future employment, growth and innovation within our city. Along with our partners we will develop a fresh masterplan for the site, focused on creating new public spaces and an innovation zone that will shape our region for the future.”
