Hammerson finishes Westquay Watermark development
Westquay Watermark in Southampton has now been completed, marking the first leisure-led development from developer Hammerson.
The scheme puts the area’s total leisure and retail space at more than one million sq ft and represents an overall investment of £85 million in the city, helping to make it a more attractive proposition for new residential properties.
Restaurants such as Five Guys, Bills, Nando’s, Casa Brasil and Cosmo will be introduced to the area, which should help to improve footfall and generate more money for the economy.
At the moment, the development is 95 per cent let and boasts a Hollywood Bowl and a ten-screen Showcase Cinema de Lux, featuring laser projection and Dolby Atmos technology in every screen.
After picking up £7 million from the government’s Regional Growth Fund, the project is set to benefit from a range of new features, including a new public Esplanade with regular events booked. The first of these was the cinema launch and a stunning Light Festival.
David Atkins, Hammerson CEO, said: “Completion of Westquay Watermark is an important milestone for the business, marking Hammerson’s first solely leisure-led development and the largest development of its kind in the UK.
“By utilising our skills and experience in delivering consumer-led destinations we have cemented Westquay’s position as the South Coast’s leading retail, dining and leisure destination, whilst also breathing life into a previously lost part of the city.”
The site makes up one of the eight VIP Heart of the City projects in Southampton City Council’s City Master Plan. The development has already played a big role in boosting local employment, as over 1,000 opportunities have been introduced.
These include 640 roles in construction, where 45 per cent of construction staff live within 20 miles of the site. Some 500 jobs have also been created in the hospitality and catering industry