Funding advisor named on £300m Chester Northgate
Cheshire West & Chester Council has appointed Strutt & Parker to provide advice on the funding options for the £300m Northgate development.
Northgate is a 400,000 sq ft retail-led mixed use scheme incorporating residential, hotel, market, offices and cinema, planned for the North West of Chester city centre.
According to the council, Strutt & Parker will evaluate the various future options and identify the most appropriate funding route to develop the scheme, which has been in the offing for over a decade.
A planning application was submitted at the end of May by the council’s development manager, Rivington Land, and a planning decision is due to be made this autumn.
If approved, it is expected that the first phases of development will begin in mid-2017 and it is anticipated that the whole scheme will be completed in 2021.
Strutt & Parker, which was appointed following selection through a competitive OJEU process, will work alongside Rivington Land.
Mike Rowlands, head of retail at Strutt & Parker, said: “We are extremely pleased to have been selected by the council as its funding advisor on the Chester Northgate development. The proposed scheme will provide customers with a high quality shopping experience and investors with a dominant regional asset that will deliver long term income and capital growth.”
