Legal and General has committed £53.3m to acquire and fund the development of a retail and leisure scheme in Dover town centre.St James is being developed by Bond City and will comprise 156,915 sq ft of modern retail and leisure space. The retail area will be anchored by Marks and Spencer and Next, alongside a six-screen Cineworld, a 108-bedroom Travelodge and six restaurants. The scheme is 69% pre-let with a further 3% under offer.
Bond City has awarded the £24m construction contract to Kier. Pre-construction work on the site is already underway with piling works for the foundation of the cinema and restaurant complex due to start later this month. The main build is anticipated to be completed in Autumn 2017.
St James forms part of Dover City Council’s wider regeneration plans for the town, which include working with developers to bring forward more than 10,000 new homes by 2026.
Gerald Eve acted for L&G; Harvey Spack Field represented Bond City; BBP Regeneration advised Dover City Council.