LaSalle’s mixed-use redevelopment of Bristol shopping centre green lit
LaSalle Investment Management’s plans to demolish and redevelop the Galleries Shopping Centre in Bristol into a mixed-use scheme have been green lit by councillors.
The proposals – submitted in conjunction with Deeley Freed on behalf of Centrica Pension Fund – look to transform the 1990s-era shopping centre into a mixed-use development comprising residential, purpose-built student accommodation (PBSA), office, retail and F&B, leisure, community, and cultural uses.
These leisure spaces could include a nightclub, a cinema, and a live music venue.
Once complete, the development could deliver up to 450 homes with 750 PBSA beds. The proposed scheme would also be a car-free development, meaning the demolition of 1,007 car parking spaces.
Also included in the proposals is the creation of public realm enhancements, a public hub, and an energy centre.
The Galleries Shopping Centre was previously sold in 2011 by Capital & Regional and Aviva Investors to HSBC European Active Real Estate Trust for £50 million. When the scheme was acquired by LaSalle Investment Management from InfraRed Capital, it was valued at £32 million.
A report for Bristol City Council’s development control committee B read: “The proposed development presents a significant regeneration opportunity to redevelop a deficient city centre shopping centre which is acknowledged by the applicant and heritage consultees to be of ‘questionable character’ and detrimental to the setting of various heritage assets proximate to the site.”