Commercial-led regeneration project of the year

Sponsored by Bircham Dyson Bell

Bishops Square is the crowning achievement of the 21-year regeneration programme of the 12 acre Spitalfields site in east London. What was once a decaying and redundant site has become a vibrant scheme that successfully creates a bridge between the traditional City core and the historic fabric of Spitalfields. Designed by Foster and Partners for a joint venture between Hammerson and the City of London the project comprises 71,900m2² of high specification office, 4,000m2² of retail space, restaurants, cafes and bars, 10 apartments and a landscaped public square.

Bishops Square was deemed a commercial success for developer Hammerson – its 75% share of the scheme was valued at £401m at the end of December 2005 on costs to that date of £244m. The scheme secured the largest ever pre-let in the City office market in 2002 with the principal tenant Allen & Overy paying a headline rent of £45 per ft2 with a rent-free period of 18 months. The international law firm will bring 3,000 jobs to the area while the eclectic mix of small and independent traders with high-street names ensures an average of 10,000 visitors to the market every weekend.

Runners up

Arsenal Regeneration Project, London
Hepher Dixon/ Arsenal FC in conjunction with Taylor Woodrow, Newlon and Galliard

Arsenal Football Club saw the construction of its new Emirates stadium as an opportunity to create a model of market-led regeneration in one of the most deprived areas of London. Working with the London Borough of Islington and the London Development Agency, the club has developed the £750m ongoing scheme largely without public subsidy. The north London scheme, in which seven architectural practices are involved, will comprise over 2,500 homes, 40% of which will be affordable housing, 70,000m2² of business, leisure and retail space and a £60m waste and recycling centre. With over £7.5m public transport upgrading and more than 2,500 projected new jobs, the Arsenal Regeneration Project could be an inspiration for 2012.

Chapelfield, Norwich
Building Design Partnership/ Lend Lease in partnership with Capital Shopping Centres

Built on a former Nestlé factory that ceased production in 1996, the £275m Chapelfield mixed-use scheme has been designed to transform Norwich into a major shopping destination. The 50,000m2² centre adjoins key historical sites including the Norwich medieval city wall, St Stephen’s Church and the listed Assembly Rooms. A “living wall” has been created around the outside of the shopping centre with 117 new apartments.

The city has been strengthened as a retail destination with half of the 80 shops in the centre being new retailers and a catchment area now reaching out to Cambridge and Ipswich.

Macdonald Aviemore Highland Conference Centre, Aviemore
Fletcher Joseph/ Macdonald Aviemore Highland Resort

The Aviemore Highland resort in the Scottish Highlands, which was first developed in the 1960s, had become a rundown ski resort suffering from lack of investment and a poor image. Owner Macdonald Aviemore Highland Resort set out to turn the place into an international resort destination. Between 2004 and 2005 over £80m of investment boosted the quality of accommodation and facilities. A new leisure and retail development was created to include a swimming complex, a 650-seat conference auditorium and theatre and a 1,000-person capacity exhibition and convention hall. This has paid off with the first year since re-opening showing an increase of 115% in conference centre sales.