The Westgate Oxford Alliance has today confirmed that the £440 million Westgate Oxford development will proceed shortly.
The Alliance, a joint venture between Land Securities and The Crown Estate, says that preparatory works for the centre upgrade will begin ‘imminently’ and the construction phase will follow in the spring. The overall project is expected to conclude in autumn 2017 after more than four years of public consultations, preparation works and discussions with Oxford City Council.
The redevelopment will see the existing Westgate centre transformed into an 800,000 sq ft mixed use retail and leisure destination containing more than 100 new stores and 25 restaurant and café units. Consumers will also be able to enjoy a boutique cinema, a number of new public spaces and a rooftop terrace offering stunning views over Oxford.
Oxford City Council leader, Councillor Bob Price, welcomed the news of the upcoming launch of the project, stating that it will be a very beneficial asset for the city.
He said; “This is an important day for the city of Oxford. As a key regeneration project for the city, Westgate Oxford will not only create many new jobs, it will also support the whole region including existing businesses by increasing footfall in the city. I am delighted to hear that construction will begin imminently.”
Potential tenants for the newly refurbished centre have already begun to express strong interest in occupying prime retail and leisure units, with the Westgate Oxford Alliance confirming that a number of new lease agreements have been signed. Joining famous names including Next, Primark and Michael Kors will be popular brands Superdry, H&M, Schuh and Goldsmiths.
Westgate Oxford will also welcome John Lewis as its anchor tenant, with its 140,000 sq ft store set to offer a wide range of fashion choices, home wares and accessories. Curzon Cinemas will operate the boutique cinema unit, meaning that the development is now around 28 per cent pre-let.
In total, developers expect 1,000 construction jobs to be created as a result of the redevelopment, with another 3,400 positons to be generated in the retail and leisure industries following the opening in late 2017.
Land Securities chief executive Robert Noel says; “Today we’ve taken a significant step towards creating our vision for a world-class retail and leisure destination in Oxford, having worked hard with our customers and the community to shape the right scheme.
“Alongside our growing list of customers, we are committed to creating a new Westgate Oxford which not only complements the city’s beauty and heritage status but also enhances its global reputation as a great place to spend time.”
