Work has officially started on the £132m Bargate Quarter regeneration in Southampton
The first ceremonial spade went into the ground yesterday (Tuesday 01 February) courtesy of Southampton City Council Leader, Councillor Daniel Fitzhenry and Councillor Jeremy Moulton, Deputy Leader and Cabinet Member for Growth.
The scheme is being delivered by developer Tellon Capital in partnership with investor Legal & General Investment Management Real Assets (LGIM Real Assets) which will own and operate the completed scheme.
The development is built around the medieval Town Walls and The Bargate, a 12th Century gatehouse to historic Southampton. It will provide 519 much-needed new homes comprising a mix of studio, 1, 2, and 3 bed units, along with 2,515 square metres of ground floor commercial space.
Construction is now underway following a unanimous decision by Southampton City Council’s Planning & Rights of Way Panel to grant permission for the revised scheme last year (2021).
James Burchell, Partner at Tellon Capital, said:
"We are delighted that work has begun at the Bargate Quarter and that the Leader and Deputy Leader of Southampton City Council, were both able to join us for this significant occasion.
"Our development will regenerate this part of Southampton, re-invigorate the area around The Bargate and bring life back to this part of the medieval Town Walls, providing retail units along with much-needed new housing in a highly sustainable location. Crucially, our scheme also responds to the changing world created by the pandemic, to ensure we have a scheme that respects the past but is also fit for the future.
"We would like to thank residents and stakeholders for their continued support, and we are delighted to be bringing forward a high-quality scheme that benefits the whole city.”
Dan Batterton, Senior Fund Manager, at LGIM Real Assets, said:
"As the largest development of new homes in the city centre for many years, today marks an important milestone in providing hundreds of new quality city centre homes. Southampton has a strong economy, and Bargate Quarter will help to support this continued growth. We are delighted to play our part.”
Councillor Jeremy Moulton, Deputy Leader and Cabinet Member for Growth at Southampton City Council, commented:
"Today marks a significant milestone for the Bargate Quarter regeneration scheme in the city centre and it has been a privilege to join Tellon Capital and others to celebrate on this great occasion.
"As a Council, we are incredibly ambitious for our city and we want to make sure that Southampton is a place that our residents are proud of as a great place to live, work and enjoy as part of an increasingly vibrant city centre. The Bargate Quarter scheme will contribute to our ambition for more growth by delivering hundreds of new homes, new space for businesses and a new linear park running alongside our medieval town walls which will bring to light the depth and quality of our heritage.”
Tellon Capital expects the Bargate Quarter scheme to be completed by late 2024.