Queensgate Development Proposals

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1 Who are we? Queensgate is owned by Invesco Real Estate and managed by Lend Lease on its behalf. About Invesco Invesco Real Estate is one of the world s largest real estate firms, providing investment management services to global institutional investors, in both direct property and investments in real estate securities. Today, we manage US$65.1bn across 20 offices. Our footprint in Europe is significant; our 140 on-the-ground specialists, including our dedicated research team, implement our clients strategies so we invest in the right markets, at the right time. This means that today we manage US$6.8bn in 143 assets across 13 countries within the main commercial real estate sectors of retail, office and logistics as well as in hotels and residential. External view of Invesco s Galeria Kazimierz in Poland Our retail credentials comprise 43 properties, including four shopping centres, which account for 27% of our total assets under management in Europe. Source: Invesco Real Estate as at 31 December 2014 About Lend Lease Lend Lease has an unparalleled track record in creating sustainable new neighbourhoods. We work with communities, clients and partners to create positive legacies whether they are large scale health facilities, schools, sustainable residential communities, productive workplaces or inspiring retail and entertainment destinations - in short, places where people want to live, work and visit. Internal view of Invesco s Galeria Kazimierz in Poland Entre Deux in Maastricht, purchased by Invesco in October 2010

2 Queensgate today In the 18 months since Invesco and Lend Lease took over Queensgate, great progress has been made enhancing the centre. Significant work has been completed to upgrade and improve security in the car parks. Eight new brands have been secured, and work is underway on the refurbishment of Westgate Arcade to create a focal point for independent brands. The work on Westgate Arcade is the first of four phases that will see the centre transformed. In addition, Queensgate has set a precedent in the shopping centre industry with the launch of its Growing Greener initiative. Working in partnership with its retailers and restaurants, Queensgate has saved: 4,253,000 kwh of energy, enough to power 1,063 homes for a year. 2,933 tonnes of CO2 have been saved, enough to cover the emissions of 1,000 Peterborough commuters this year. Furthermore, the centre has saved 3,000m3 of water, sufficient to fill Peterborough s Vivacity pool twice. Artist s impression of the refurbished Westgate Arcade

3 whyare we CONSULTING? It is important that strong and vibrant city centres such as Peterborough evolve, particularly in light of new competition from other centres and developments. Invesco and Lend Lease plan to add a new leisure and dining offer to Queensgate, as well as additional retail units to help accommodate demand from exciting new brands. The new offer will largely be created through the reconfiguration of existing space at Queensgate. Our vision for the addition of a new offer is to expand and reinforce the already successful centre, adding a range of new retailers, dining and leisure brands that will increase Queensgate s appeal amongst local residents and visitors from further afield. It will also support the long-term viability of the wider Peterborough city centre. We are consulting to seek the comments and views from Queensgate shoppers and potential customers of the centre, before submitting the planning proposal in Summer 2015.

4 Queensgate and the Community At Queensgate, we aspire to be a sustainable leader both in terms of our role in managing the centre and in our wider capacity in the heart of the Peterborough community. The centre has selected Shine as their partnering charity for Shine is the UK s largest organisation dedicated to supporting individuals and families affected by Spina Bifida. Queensgate works alongside a nominated, local charity each year, organising and promoting fundraising events. In 2014, the centre assisted in raising 12,000 for Kidney Research UK. We also aim to engage with children in the community, running our fortnightly Kids Club in the centre. To support the Peterborough Environment City Trusts Green festival, Queensgate will also be working with local schools, to build a house in the shopping centre, made entirely from recyclable materials. Queensgate staff provide voluntary support for Peterborough Sailability The development will have a focal point of job creation and training, bringing 200 additional jobs and further economic benefit to Peterborough. Through continuing to support local charities, schools and initiatives, we aim to leave a positive legacy within our local community. Customers donated presents for the Queensgate gift tree

5 Why are we extending/introducing a cinema and catering? There is significant demand for space at Queensgate from leading brands, as evidenced by the eight new stores to open at the centre in the last 12 months. To accommodate that demand, working in partnership with John Lewis, we plan to reconfigure their store to release under-utilised storage space. John Lewis will also redesign its store to create a great new offer for customers, in sales space of a similar size. This additional space will allow us to create new retail units, new catering premeises and a new cinema. The new retail space is designed to meet modern retailer requirements including a new Next store twice as large as their existing one in Queensgate. Demand from retailers for space at Queensgate is matched by that from restaurants and cafés, reflecting how increasingly important dining and leisure have become to our visitors. Whilst Queensgate has a limited dining offer already, it is not sufficient to meet the needs of visitors, be they living locally or travelling from further afield. There is also significant demand for a cinema as part of Queensgate s offer. This is from visitors, retailers and restaurant brands alike. The proposals will therefore create exciting new space at the heart of Queensgate, bringing additional retail units an upsized Next and refurbished John Lewis, anchored by a multi-screen digital cinema and 7 new restaurants.

6 The Proposals Multi-screen digital cinema 7 new restaurants Refurbished John Lewis New Next store, twice as large as their existing Queensgate store Refurbishment of existing malls Planning permission submitted SUMMER 2015 Construction Commences 2016 Extension Opens 2018 Artist s impression of the new exterior

7 New Restaurant Level (under offer) MSU5 Bus Station MSU3 P To Peterborough Mainline Rail Station 6 1 P 5 2 Bus Station 3 4 Vacant Blue Inc KEY: NEW RETAIL UNITS New Cinema Level P NEW CINEMA Bus Station CINEMA To Peterborough Mainline Rail Station P NEW RESTAURANT UNITS CINEMA Bus Station Artist s impression of the new cinema 7 Cumbergate entrance East Mall

8 Other benefits of the new dining and leisure offer Queensgate makes a vital contribution to the success and attractiveness of Peterborough as a place to visit, work and live. Partner in the community. Commitment to sustainability. Eight new brands in the last 12 months along, including Lakeland, Tiger and handmade burger Co. For Queensgate to continue to thrive, however, it needs to grow. Given Queensgate s success, strong demand from leading leisure operators to take space in the heart of the centre. Increased competition threatens to take business away from Peterborough city centre (internet, retail parks, etc). The addition of a dining and leisure offer will further increase Queensgate s appeal amongst retailers and increase the quality and variety of experience for visitors. Queensgate s growth will bring further benefits to Peterborough, including the creation of 200 jobs. These are in addition to the 2,500 people already working at Queensgate. Artist s impression of the new dining area

9 have your SAY We would like to gather your feedback and views on our proposals. Following the public consultation, we will consider the comments made. The design will be further developed and we intend to submit a planning application in the next few months. Our objective is to continue to offer the best possible retail, leisure and entertainment facilities at Queensgate in the form of a cinema and additional restaurants that will complement the existing shops. The proposed additions will reinforce Peterborough town centre s appeal, offering a variety of activities to local residents and visitors from further afield. We hope that you have found this exhibition informative and look forward to receiving your views. The team has questionnaires you can complete, or post back to us by 30th May. FAO Centre Management, Queensgate Public Consultation, Queensgate Shopping Centre, Peterborough, PE1 1NT. You can also collect a questionnaire from the customer services desk. Copies of the boards can be downloaded from our website. Alternatively please us at customerservice@queensgatecm.co.uk