Centros Miller, the developer of Portsmouth's Northern Quarter, has confirmed that Marks & Spencer will join John Lewis to form the two main retail anchors of the £500 million city centre development.

Having exchanged contracts with Marks & Spencer for a 130,000 sq ft store, Centros Miller's development director, John Marsh, said that the retailer's commitment to the development shows a high level of confidence in the future of shopping in Portsmouth.

"As one of the UK's most successful retailers, the new M&S will strengthen the city centre's attraction immensely and, with John Lewis, it will set the tone for the quality of our development. Our architects have designed an absolutely stunning building for M&S which will undoubtedly form a very attractive landmark to signal to shoppers their arrival in the city's prime shopping area."

Cllr Mike Hancock, Executive Member for Planning, Regeneration and Economic Development at Portsmouth City Council, added: "This is extraordinarily good news for Portsmouth.

"The Northern Quarter development is at the heart of our regeneration plans for the city centre, and a catalyst for other improvements. This announcement is a significant milestone in this process.

"This commitment by Marks and Spencer makes the Northern Quarter an even stronger and more viable proposition, and once again indicates the faith people have in the development."

The curved black tile-clad facade of the new Marks & Spencer store will overlook a new public piazza at the junction of the two new shopping streets in the open scheme. In addition to the new stores for John Lewis and Marks & Spencer, the Northern Quarter development will provide more than 80 other new shops, cafes and restaurants, 200 residential apartments and 2,300 car parking spaces with easy access off the M275.

Jeremy Collins, Head of Retail Development at John Lewis also welcomed M&S: "John Lewis is delighted to see M&S as a second anchor store to the Northern Quarter development and this provides an ideal platform for taking the project forward. It is a great vote of confidence by M&S in the potential for Portsmouth to grow as a major retail destination and endorses the view of John Lewis."

Recent research by Javelin shows that the Northern Quarter's regeneration of the city centre will transform Portsmouth's retail attraction by drawing trade from a wider catchment of some 1.21 million people in 2011 after the development is open. This will push the city 56 places up the UK's retail rankings from 84th to 28th.

This move up into the top 30 and the regeneration stimulated by the Northern Quarter development will attract many new retailers to the city - not just to the development. The existing premises of M&S are therefore expected to be snapped up by retailers keen to take advantage of the city's revitalised retail environment.

Construction is scheduled to start on the one million sq ft mixed-use development next year. It will cover 17 acres of the city centre and will involve a major realignment of the city's main highway network leading from the M275 motorway.

Working in partnership with Portsmouth City Council, Centros Miller is also co-funding a number of significant improvements to the city centre including new landscaping for Commercial Road - with the aim of creating a seamless integration between Northern Quarter and the existing city centre and thereby increasing the attraction of the whole city centre.

The development is being financed by Centros Miller's shareholders, Delancey and The Miller Group. Agents for Centros Miller are Leslie Furness and Cushman & Wakefield.

NOTES:

NORTHERN QUARTER – DESCRIPTION:

The one million sq ft mixed-use Northern Quarter development will form the focus of the complete regeneration of Portsmouth city centre. Involving a major realignment of the main highway leading from the M275 motorway, it will cover 17 acres of the city centre, including the site of the former Tricorn shopping centre demolished by Centros Miller in 2005.

Anchored by John Lewis and Marks & Spencer, the open development will create two new shopping streets leading from Commercial Road to a public piazza and linking into the existing Cascades shopping centre. Northern Quarter will also provide more than 80 other new shops, cafés and restaurants, 200 residential apartments, 2,300 car parking spaces, plus bus and taxi facilities with direct access from the city's realigned main access road. With the development having outline planning consent, construction is scheduled to begin in 2008 and is targeted for completion in late 2010.

NORTHERN QUARTER – KEY FACTS:

Two new interconnected shopping streets, each with a distinct character and retail mix

230,000 sq ft John Lewis

130,000 sq ft Marks & Spencer

More than 80 new shops, cafés and restaurants

200 residential apartments (including affordable homes)

2,300 car parking spaces

New bus and taxi set-down and pick-up facilities

New civic space adjacent to St Agatha's church

A shopping catchment population of 1.21 million people

CENTROS MILLER is owned by a joint venture comprising The Miller Group and Delancey, through its managed funds.

CONTACTS:
Steve Bryson at Halogen – telephone: 020 7087 3260; mobile: 07970 639 301;
email: steve.bryson@halogenuk.com

Virginia van der Meer at Halogen – telephone: 020 7087 3260;
mobile: 07815 115 608; email: virginia.vandermeer@halogenuk.com