Cheshire West and Chester Council has appointed Strutt & Parker to provide the Council with strategic advice on funding the delivery of the £300 million Chester Northgate development.
Strutt & Parker’s advice will help the Council to evaluate the various future options and identify the most appropriate funding route to build out the 500,000 sqft retail and leisure-led development.
Chester Northgate is set to revitalise 5.8 hectares of the northwest quadrant of Chester city centre and return the city to being one of the UK’s Top 50 retail centres. A planning application was submitted at the end of May by the Council’s development manager, Rivington Land, and a planning decision is due to be made this autumn. If approved, it is expected that the first phases of development will begin in mid 2017 and it is anticipated that the whole scheme will be completed in 2021.
Strutt & Parker – appointed following selection through the competitive OJEU process – will work alongside Rivington Land.
Mike Rowlands of Strutt & Parker said: “We are extremely pleased to have been selected by the Council as its funding advisor on the Chester Northgate development. The proposed scheme will provide customers with a high quality shopping experience and investors with a dominant regional asset that will deliver long term income and capital growth.”
David Lewis, CEO of Rivington Land, said: “We are delighted to have Strutt & Parker on the Chester Northgate team to help us bring this very exciting major city centre development to fruition.”
Said Councillor Samantha Dixon, Leader of Cheshire West and Chester Council: “Strutt & Parker are a very welcome addition to the development team as we prepare for the plans to be considered by the planning committee in the autumn.”