Following outline planning approval earlier this year, Southampton City Council has today (13 September 2021) approved the commercial terms for the Leisure World scheme, enable progress towards a start on site in early 2023.
The Leisure World development will very much look to celebrate Southampton’s industrial maritime heritage whilst responding to the need of creating a mixed-use development for all. The council will also be working with the developer, Sovereign Centros, so that environmental considerations for the city are reflected in the new development. This includes the use of latest building and low-carbon technologies and significant ‘greening’ of the public realm.
The Leisure World scheme features:
- £250m investment in Southampton city centre
- Cinema, casino, leisure and wellbeing facilities
- 650 new homes
- Two 150-room hotels
- 80 serviced hotel apartments
- Modern workspace
- Vibrant public realm
- 1000+ jobs
- Much improved linkages within the city centre
Councillor Jeremy Moulton, Deputy Leader and Cabinet Member for Growth at Southampton City Council, said:
“Leisure World is a key development site within Southampton and is particularly important to support recovery from the pandemic as we grow the local economy and get Southampton moving.
“Through this inward investment, the Leisure World development not only creates a large number of jobs during the six to eight years of construction, it also creates many new permanent jobs once the scheme is completed.
“It’s fantastic news that the terms of the conditional development agreement and new head-lease has been approved as this enables all parties to progress the scheme forward and I look forward to seeing a start on site.”
John Marsh, Director at Sovereign Centros, said:
“This agreement with Southampton City Council is an important part of the process that will unlock substantial investment in the city. It will ensure the rejuvenation of this strategic site, which represents one of the most significant redevelopments Southampton has seen in a long time.”
The scheme will be built across different phases, beginning in early 2023 with the first phase expected to be occupied during 2024-25.
The emerging Mayflower Quarter Masterplan also recognises this site’s potential to contribute to a vision for the city’s future prosperity and, while the scheme is proceeding slightly ahead of the plan-making process, the outline planning approved scheme is consistent with the masterplan’s key growth and regeneration themes.