St Stephenâ€™s Place Leisure Park, Trowbridge, set to bring large boost to local economy as it gets ready for gala opening.
18 November 2013
The Gala opening of St Stephen’s Place Leisure Park is due to take place on the evening of Tuesday 19 November at the ODEON cinema and will be attended by over 250 people, notably its stakeholders and all those that played a large role in making it happen, including members of the Council, ODEON, Legal & General Property, and its development team led by main contractor Leadbitter Group. Once fully opened, St Stephen’s Place is expected to employ over 200 people within the scheme, adding a much needed boost to the local economy.
Legal & General Property, the investor behind the town centre leisure scheme and the owner of nearby Castle Place Shopping Centre, has to date injected a total of £17 million into this significant regeneration project. The development has also employed an average of 100 people per day since construction started in June 2012.
Since opening its doors on 25 October, the 1,300 seat ODEON cinema has already seen average attendances of over 1,000 people per day. Nando’s opened last week and both Prezzo and Premier Inn are due to launch early December. Further restaurant lettings are due to be announced before the end of the year and Frankie & Benny’s will launch in February 2014.
Tim Russell, Senior Asset Manager at Legal & General Property, commented: “This is a great day for Trowbridge and its wider catchment. After 30 years without a cinema or high quality leisure offer, it is finally beginning to take shape as an exciting destination in its own right acting as a major draw not only for the local population but also tourists and visitors from further afield. Furthermore the long term jobs created by the finished scheme will follow through into wider benefits for the local area, fuelling economic growth. We hope our development of St Stephen’s Place Leisure Park will act as a catalyst for further regeneration in the town centre, putting Trowbridge back on the map as the County Town of Wiltshire.”
Savills and Alder King acted for Legal & General Property.
Notes to editors
Legal & General Property
Legal & General Property (LGP) is a wholly-owned subsidiary of Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor. LGIM manages approximately £443bn in assets on behalf of more than 3,100 clients (30 September 2013) and provides products and solutions spanning all asset classes. LGP is the third largest institutional property fund manager in the UK, managing or co-managing 16 separate funds or vehicles and two segregated mandates with an aggregate asset value of £11.6bn as at 30 September 2013. These funds include:
Specialist Pooled Funds
The Leisure Fund Limited Partnership; Industrial Property Investment Fund; Arlington Business Parks Partnership; and the English Cities Fund
Single Asset Vehicles
Bracknell Regeneration Partnership; Central Saint Giles Partnership; Performance Retail Limited Partnership and Warrington Retail Limited Partnership
Life Fund; Linked Pensions; Linked Life; Managed Fund; Property Unit Trust; UK Property Income Fund; LPI Income Property Fund and the Hybrid Property Fund.
LGP’s UK-focused fund management platform has built and retained a strong track record of out-performance across the sector. Owing to its size, diversity and penetration, it benefits from best in class banking and property industry contacts which, along with its wealth of in-house skill and expertise, have enabled it to continue to attract and secure high quality market opportunities. Taking a client-centric approach, the business places the highest priority upon integrity and transparency, leveraging upon the significant resources provided by the wider LGIM platform. Sector specialists cover each sphere of the market and are supported by LGP’s market-leading research capability. LGP’s sector specialisms cross all facets of the real estate market. In particular, the Company has a major development platform, responsible for delivering West End landmark building, Central Saint Giles, and Agar Street, its high profile Covent Garden office scheme, amongst others, and is currently involved in bringing forward a number of significant town-centre retail and leisure regeneration projects, including Bracknell, Trowbridge, Northampton and Eastbourne.
Legal & General Property Limited. Registered address: One Coleman Street, London EC2R 5AA. Registered in England 2091897.
For more information please contact:
PR Manager, Legal & General Capital and Real Assets, LGIM (Property, infrastructure and alternative finance)
t: + 44 (0) 203 124 2777
m: + 44 (0) 7718 395 279
About Legal & General
Legal & General Property Limited.
One Coleman Street
London EC2R 5AA.
Registered in England 2091897.