The Broadmarsh Retail Limited Partnership (JV between Westfield Shopping Towns & Hermes) - Broadmarsh Shopping Centre Re-Development, Nottingham
Westfield specialises in the management, leasing, development, design, construction and funding of shopping centres. Westfield has approximately £26bn of assets under management in a portfolio of 118 shopping centres across the United Kingdom, United States, Australia and New Zealand.
Hermes Real Estate is responsible for some £12bn of real estate in the UK (as at 30 June 2007) on behalf of its two main segregated pension fund clients, British Telecom and Royal Mail, and the £950 million Hermes Property Unit Trust. Hermes operates an integrated portfolio management and research approach to target high quality, well located properties and development sites/investment opportunities.
Project Description:
The proposed development involves; extensive demolition, ground and superstructure works, highways re-alignment works, utilities infrastructure works and improvements both within and beyond the current Centre demise and ownership coupled with demolition, refurbishment and improvements to the existing Centre. Phasing of the development to maintain the existing Centre in its fullest operational capacity is paramount to the success of the project.
The completed Centre will trade over 4 levels of retail with 3 levels of mall. There will be a mezzanine floor, Level 2M, between Level 2 and Level 3. Level 2M will have no mall and retail areas on this level will be accessed through the units below. Car parking will be provided above the Centre from Level 4 to Level 7, and above the bus station from Level 2 to 7.
Sustainability:
- Use of town District Heating system which is carbon zero
Key Challenges:
- Existing Centre to remain open and trading with minimum disruption for the duration of the project
- City centre site with constrained and difficult access.
- Separate project funding with specific requirements
Form of Contract: Bespoke Design and Construction
