UK private equity firm Carlyle has submitted a planning application for a £22 mln mixed-use scheme in the Queen Street area of Oxford city centre. In a statement on Monday, Carlyle said it will build a two-phased project which is set to regenerate a neglected part of Oxford's historical city centre. Plans for the retail-led scheme include a new open air shopping centre including nine new shops, 17,000 sq ft of office space and accommodation for up to 96 students located above the planned retail space. Subject to planning approval, construction is expected to begin in 2009 and take two years.
UK private equity firm Carlyle has submitted a planning application for a £22 mln mixed-use scheme in the Queen Street area of Oxford city centre. In a statement on Monday, Carlyle said it will build a two-phased project which is set to regenerate a neglected part of Oxford's historical city centre. Plans for the retail-led scheme include a new open air shopping centre including nine new shops, 17,000 sq ft of office space and accommodation for up to 96 students located above the planned retail space. Subject to planning approval, construction is expected to begin in 2009 and take two years.
'We see this as an excellent opportunity to redevelop a prime part of the city centre and are committed to proceeding with these plans despite the current market conditions. Encouragingly, we have already seen considerable interest from potential tenants for this project; we have interest from the Council with regard to their office requirements and are in advanced negotiations with two key potential anchor tenants for the retail space,' said Mark Harris, director and head of UK asset management at the Carlyle Group.
