Currie & Brown to cost manage major mixed-use scheme in Plymouth
19 December 2017
Currie & Brown has been appointed to provide cost management services on the construction phase of a 300,000ft² mixed-use scheme in Plymouth, southwest England. The Plymouth Cross development involves remodelling, extending and refurbishing an existing department store to create approximately 60,000ft² of retail and leisure space, a 500-bedroom student accommodation block and a 110-bed Premier Inn budget hotel.
The scheme will support the regeneration of the city's west end, helping to accommodate the growing number of tourists and providing high-quality commercial space, which will be primarily aimed at food and beverage providers.
European Property Investors Special Opportunities 4 (EPISO 4), an opportunity fund advised by pan-European real estate investment manager Tristan Capital Partners, has invested £50 million into The Plymouth Cross development. The investment will be in partnership with Thames Bank Property, which has been working on the project for more than three years and supported by development managers Ridgelift.
Colin Morris, managing director at Thames Bank Property, said: "The redevelopment of the former department store presents a significant opportunity to develop a high-quality scheme that will not only ensure long-term sustainable use, but will also provide a welcome and enhanced night-time economy to the west end of the city. This is an exciting time for Plymouth and we look forward to delivering this project over the coming years."