focus on southampton 13
Work on Northam Bridge is essential to repair and maintain one of the busiest routes into the city centre, which is why the council has advised drivers to plan their journeys, use alternative routes where possible and asked local employers to consider flexible working for staff where possible. It is the fifth bridge structure to benefit from Pinch Point funding.
WestQuay Watermark is therefore set to become Southampton‘s new city centre leisure hub, providing the area with an exciting new dining and leisure destination. Hammerson has secured Mexican restaurant Wahaca, Zizzi and Byron as the first restaurants for its £70 million development WestQuay Watermark, giving each its debut in the city. Luxury cinema brand Showcase Cinema de Lux will open its first 10-screen digital cinema in the south here too, a key part of the development.
Grosvenor, which is developing the Arts Complex in Southampton‘s Cultural Quarter alongside the city council, has announced that Delicious Dining, the south‘s largest independently-owned hospitality group, is the first company to sign up for the commercial units. It will open a new 5,000 sq ft restaurant, Tapas Barcelona, with entrances on Guildhall Square and Guildhall Place.
Delicious Dining‘s CEO Steve Hughes said: “I‘m a big supporter of the Cultural Quarter and find the city council‘s regeneration plans tremendously exciting. As a local business we are thrilled to have agreed terms and look forward to the fitting-out phase in May with an official opening in summer.“
Meanwhile Bouygues Development has signed a deal with Knightsbridge Student Housing to run a new £28m student development at St Mary‘s Road. Knightsbridge Student Housing will fund the scheme, which also includes retail units, and manage the accommodation through the Student Housing Company. Construction work has begun, with the new building expected to be completed for students to move in at the beginning of the academic year starting September 2016.
Both the University of Southampton and Southampton Solent University complement each other in attracting higher- education students to the city with strengths in differing areas.
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MARCH 2015
Above: Arts Complex by night from Guildhall Square (Image courtesy of Grosvenor GBI)
Below: Admirals Quay Ocean Village
A number of people connected to the University of Southampton have been named in the prestigious Debrett‘s 500, which recognises the most influential and inspiring people living and working in Britain today – among them director of Optoelectronics Research Centre David Payne and Wendy Hall (engineering and technology category), along with visiting professor Liam Maxwell (government chief technology officer) and Tim Berners-Lee, who needs no introduction (digital category).
Southampton Solent University‘s £30m new teaching and learning block is progressing in and around the immediate vicinity of East Park Terrace. For students enrolled on civil engineering and construction courses, the new build means access to a working building site quite literally on their doorstep.
Sally Thompson, CEO of Business South, based at Ocean Village, commented: “Anyone coming to Southampton can‘t help but notice the number of developments currently springing up from the ground. The skyline is peppered with giant cranes and there is an undoubted buzz in the city.
“Business South is proud to have played an instrumental role in encouraging Southampton City Council to adopt a Master Plan for the city. Identifying the potential waiting to be unlocked in key sites has seemingly helped to make long-held dreams a reality. All this development is set to transform the city, making it an even better place to live, work, study and enjoy.“
Associated British Ports (ABP) has snapped up two industrial estates in Southampton, Marchwood and Cracknore Hard Industrial Estates, from Oceanic Estates, which owned the sites for 15 years. ABP views them as providing strategic long-term value because they fit well with its existing business and landholdings.
Nick Ridehalgh, port director at ABP Southampton, said: “Once we were aware of Oceanic Estate‘s intention to sell the sites, we moved quickly to secure them. Our intention is to continue to develop the estates to increase the income and better provide for the essential B1, B2 and B8 uses that support and directly contribute to the economic success of the Port of Southampton and wider region.“
For those keen to purchase buy- to-let properties, investments in Southampton are among those offering the highest investment yields in the UK, according to research by HSBC. The value of buy- to-let mortgages increased by more than a third in 2014. The first report of 2015 found Southampton and Manchester to be the two highest- yielding locations in the UK.
To conclude, Dawn Baxendale, chief executive of Southampton City Council, said: “Southampton is the economic powerhouse on the South Coast, a reputation that continues to grow, along with the scale and scope of the city.
“The city has a highly-skilled workforce, with 27% employed within professional and technical occupations, and a strong representation of employment in the legal, land and building professions; cutting-edge research within the city will change the world and we are fast becoming a top cultural destination. These claims are not unexpected, they were foreseen and planned for in the council‘s 2012 City Centre Master Plan.
“Five of the plan‘s seven identified VIP projects to enhance the city are in progress, which will create a vibrant and eclectic city centre. Our ambition to acquire £3 billion investment by 2030 has already attracted more than £1.6b.
“We work shoulder to shoulder with our investment partners and developers to promote the whole city, by interlinking developments, infrastructure, housing and employment opportunities, and it is paying off.
“Jobs are key to our economic development and they are being created and secured. Since 2011, employment and skills plans have supported 7,952 people towards a new career through work and education-based training opportunities and WestQuay Watermark will create more than 2,500 jobs.
“As a waterfront city with in excess of 400 cruise ship visits, 1.5m cruise visitors and as one of the largest container ports in the UK with £1.2b output each year, Southampton is perfectly poised to continue its success.
“The future of Southampton is assured. We are bold and we are ambitious. Our plan is not just our vision – it is turning into reality.“
www.businessmag.co.uk
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