Monday, November 29, 2021
Real EstateUK

Former Toys R Us site sold to Fiera Real Estate

Toys R Us

The project is expected to create 1,000 new jobs and work could start as early as next year

The former Toys R Us site on Western Esplanade has been sold to firm Packaged Living and Fiera Real Estate. The site shut down in 2018 following the chain’s collapse.

It says the site will make up a “key development” within the upcoming Mayflower Quarter masterplan.

However, Southampton City Council has not revealed the amount for which the 4.8 acre site was sold for, stating they are “unable” to provide the information “at this time”.

Along with this, no details have been revealed about the proposed use of the site, but the buyer has a background in building high-end apartments.

Councillor Jeremy Moulton, the council’s deputy leader, said: This is an excellent milestone in the development of this site which we as a new administration are keen to see progress.

This site, ideally located opposite Southampton Central train station, is a key development within the Mayflower Quarter masterplan which has the aim of attracting private sector investment to regenerate this part of the city and to help improve the delivery on improved green spaces, public realm and access to the waterside, Moulton said.

The project is expected to create 1,000 new jobs and work could start as early as next year.

Southampton Labour Leader Cllr Satvir Kaur said: We are pleased the new Conservative administration are continuing with Labour’s Mayflower Quarter Masterplan. Our plan was to completely reimagine the space, everything from Southampton railway station to Mayflower Park.

Kaur said: Labour wanted to transform this area into a destination place, while creating jobs and offering affordable housing, green spaces and access to the waterfront for local people. It’s encouraging Labour’s plans are being followed to help the city reach its full potential.

Important:

The articles are for information purposes only and Invest for Property shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Invest for Property does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply

one × 3 =