North Street Development Shortlist Confirmed

Published on: 9 Nov, 2012
Updated on: 10 Nov, 2012

The Expressions of Interest document used to invite developers to be considered for the short-list

The shortlist for Guildford Borough Council’s (GBC) developer partner for the redevelopment of North Street was announced at last night’s Executive committee meeting (November 8).

The successful bidders selected for second round presentations about their proposals for North Street are Land Securities, Lend Lease* and Queensberry.

This announcement follows an open invitation process requesting interested developers to work with GBC in providing expertise to develop 2.5 hectares of town centre land. The chosen party will also work closely with Hermes Real Estate, the largest retail investor in the town that now solely owns the Friary centre.

Cllr James Palmer, Lead Councillor for Town Centre Planning, said : “The short-listed bidders represent the UK’s best in class developers who all have the experience, expertise and commitment to develop this key town centre site. The proposed redevelopment will offer better facilities for the town, local businesses and the wider community. We are committed to supporting Guildford’s thriving economy and the interest and involvement of these major companies underlines the strength and vitality of our borough.”

Chris Taylor, Chief Executive Officer, Hermes added: “We are delighted with the calibre of development parties expressing interest in the town centre and look forward to working with the council and other stakeholders in bringing forward the enhancements to the town.”

After appointment, the chosen development partner will join the council’s assembled team of experts including advisors Cushman & Wakefield.

GBC will now interview each of the shortlisted bidders and ask them to present detailed proposals about how they would bring forward master planning for the development.

This will include how they will ensure wide-ranging public engagement and consultation about the plans. A stakeholder panel, with representatives from the local community, will also give their views on the suitability of each bidder. The council will announce the final decision in March 2013.

Cllr Angela Gunning (Lab Stoke), Leader of the Labour Group, reacted: “I’m very pleased to see progress, and look forward to considering what the three bidders have to offer. Guildford deserves the best – we’ve waited a long time to get this far.”

Cllr Caroline Reeves (Lib Dem Friary & St Nicolas), said: “I am thankful that at last we have positive moves to get on with redeveloping this part of the town. The consultation which is planned will ensure that the chosen developer will be able to have feedback from a wide variety of residents and businesses across every demographic group and all age ranges. This is an exciting opportunity to secure a great future for this part of the town centre.”

The Guildford Vision Group was invited to comment.

* The url for the Lend Lease website appears to be www.lendlease.com/ but at the time of publication would not open.