Market Leads & Opportunities
Multimillion-pound Albion Square plans set to move forward
The multimillion-pound Albion Square development in Hull is set to move forward with councillors asked to back the amended plans for the scheme.Planning permission was granted last year for a mixed-use scheme featuring 278 residential units, about 180,000 sq ft of retail space, 9,000 sq ft of offices, a multi-storey car park and new public squares, as well as a new ice arena.Amended plans were revealed in January 2020 with a greater focus on leisure and commercial space. Retail will no longer form core element of the development, but units of a smaller scale will be created to support the residential and leisure components.The changes were made in response to rising demand for office space in the city, as well as national changes within the retail sector.It has been estimated that the amended scheme could support the creation of 900 gross direct annual jobs, as well as 600 indirect roles in supply chains.The scheme could also generate annual local contributions of £39m in direct gross value added (GVA), and £36m in indirect GVA.Hull City Council’s Cabinet will discuss the project at a meeting later today (24 February 2020). Members will be asked to grant authority to the assistant director for major projects and infrastructure (ADMP&I) to move forward with the scheme.The development would be completed in three phases, with about 300,000 sq ft of commercial space following by residential units and then the ice arena, leisure facilities and multi-storey car park.Vinci Construction and FaulknerBrowns architects have previously been appointed to work on the Albion Square development.
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