PARNERSHIP FORMED TO DELIVER MAJOR DEVELOPMENT IN GAINSBOROUGH

Nov 2003

Dransfield Properties – The South Yorkshire urban regeneration specialists - have joined forces with Prospect Estates to deliver a £19 million retail scheme at the Britannia Works building in Gainsborough.

Planning and Listed Buildings Consents for the major Britannia Park scheme on Beaumont Street, in Gainsborough, Lincolnshire, were approved by West Lindsey District councillors earlier this year following lengthy and detailed negotiations with Prospect Estates.

A joint venture company has now been formed by Dransfield Properties and the Leeds based Prospect Estates to bring forward the ambitious scheme, which could be completed by Easter 2005.

The development is the biggest retail scheme in Gainsborough in recent years and it will create around 300 new jobs as well as providing a much greater choice for shoppers in the area.

The former engineering works has been in need of re-development for a number of years and the joint development company – called the Britannia Park Regeneration Company Ltd – could be on site as early as June next year with the aim of opening the new shopping plaza by Easter 2005.

The £19 million development already has detailed planning consent and will provide 100,000 sq ft of new retail space in the town centre as well as a further 4,000 sq ft restaurant and 7,000 sq ft of office space.

Thirteen new retail units will be created in this prime shopping location adjacent to the new Tesco store in Gainsborough – bringing new retailers and greater choice to the area. The scheme also includes 305 new town centre car parking spaces.

There are also plans for a new Heritage Centre on the site and the company is working closely with English Heritage on this aspect of the development.

Dransfield Properties is one of the region’s leading developers in the field of urban regeneration and has worked on a number of high profile schemes across the Northern Region.

The company recently won the RICS Pro Yorkshire Award for a £24 million regeneration scheme on Holderness Road, in Hull, which has delivered a new 190,000 sq ft retail development called The Mount as well as a new school and community centre.

As well as bringing forward high quality developments the company also aims to enhance many of its schemes with public art and plans are already underway to involve the world-renowned sculptor Robert Erskine on the Gainsborough development which will have an attractive piazza area.

Mark Dransfield, Managing Director of Dransfield Properties Ltd, said: “We are delighted to be working with Prospect Estates on this development which is the largest and most significant retail development in Gainsborough’s recent history.

“There is a need for a development on this scale in the area and we are sure it will help to attract back many of the shoppers who at the moment are heading away from Gainsborough.”

“We are now looking forward to getting on site next year and are already marketing the development to the many retailers who we know are keen to be represented in the area,” he added.

Robert Mayo, Director of Business Development at Prospect Estates, added: “We know there is a great deal of enthusiasm in the area for the Britannia Park retail scheme and we are confident that the development will become a significant asset to the town and surrounding area.

“This significant regeneration project will breathe new life into historic Grade Two listed buildings allowing their re-use after many years of neglect.”

For further information log on to the company’s website at www.dransfield.co.uk or www.prospect-estates.co.uk

Contact details:

Amanda Holmes
Public Relations, Dransfield Properties Ltd
Tel : 01226 360644 or 07971 854733

Robert Mayo
Prospect Estates
Tel : 01943 850111 or 07739 590646

For further information, contact:-

Public Relations Department, Dransfield Properties Ltd
Tel: 01226 360644
Email: pr@dransfield.co.uk