LaSalle Investment Management and development partner Deeley Freed have secured planning permission for the redevelopment of The Galleries Shopping Centre in Bristol city centre.
The redeveloped centre will feature up to 450 new homes and 8,000 sq m (circa 86,111 sq ft) of ground floor space dedicated to retail, leisure, dining, health and community facilities.
It will also offer approximately 46,000 sq m (circa 495,000 sq ft) of modern, sustainable employment space and 1.5 acres of high-quality public realm. There is also potential for a 240-room hotel or aparthotel and up to 750 purpose-built student bedrooms.
Tom Lewis, fund manager, UK custom accounts at LaSalle Investment Management, said: “Following an extensive consultation process with local stakeholders, we’re delighted to have secured planning approval to transform Bristol city centre and provide the local community with new homes, commercial space, amenities, and green space. We’re committed to investing for the long term and this ambitious redevelopment scheme demonstrates our ability to create value and better meet the needs of future residents, occupiers and visitors.”
Max Freed, director at Deeley Freed, added: “We’re delighted Bristol City Council has voted to support this redevelopment project. It is a once-in-a-generation chance to reinvent, revitalise and modernise such a large part of the city centre. Our vision involves completely transforming this 1980s shopping centre, making the site more diverse, safe and sustainable. The redevelopment of this site will bring more people to live and work in the city centre, accelerating the regeneration of the area.”
