Hammerson secures anchor for £550m Leeds scheme

Developer Hammerson has signed up John Lewis as an anchor tenant for its £550m Eastgate Quarters retail development in Leeds.

Hammerson said the deal would enable it to begin construction work in early 2014. Detailed design work will start this autumn

The 36,000m² project will create two new retail streets drawing on Leeds’ arcade heritage.

Hammerson also said in a statement to the City that its portfolio is now 97% retail after the sale of several London assets to Broofield.

David Atkins, chief executive of Hammerson, said: “We have created a focused retail business by accelerating our plans to sell the London office assets through a single transformational deal

“We expect to deliver further growth to shareholders by building scale in our chosen retail sectors through extensions, developments and acquisitions.”