Orchard Street submits planning application for leisure complex at the Wellgate Centre, Dundee
Orchard Street Investment Management LLP, the specialist commercial property investment manager, has submitted a planning application for works to create a new leisure destination at Wellgate Centre in Dundee city centre. The plans include a 900 seat, eight screen cinema and 65,000 sq ft of family restaurants, cafés and leisure outlets, to complement the existing Wellgate shops and public library.
The regeneration project will convert part of the property into an eight screen cinema while the front of the centre facing Murraygate will be transformed by the addition of a glazed three storey high entrance lobby with lifts and escalators. The new entrance area will provide easy access from Murraygate to the existing shops on all levels and the city library, as well as the new cinema, restaurant and leisure facilities. The glazed façade will allow views into and out of the centre on all three levels.
The plans represent a significant new investment in the city centre which will complement the continuing £1 billion redevelopment of Dundee city centre and waterfront area, which includes the addition of the new Victoria and Albert museum, MalmaisonHotel and the flagship Olympia swimming and leisure complex close by to Wellgate. When completed and fully let, the project is expected to generate up to 330 new full and part time jobs in the leisure and cinema units, as well as temporary jobs during construction.
Commenting on the plans, Phillip Rodger, Partner at Orchard Street, said:
“We believe that transforming the Wellgate Centre into a retail, leisure and entertainment hub which includes a new city centre cinema for Dundee will significantly enhance the existing retail offering and overall visitor experience, as well as providing leisure amenities that are not currently available in the city centre. It is a key part of our long term vision for Wellgate that the city library continues to be a core element of the centre and our proposals have been carefully drafted to achieve that, both during development works and for the long term. ”
The plans were submitted for approval on the 11thJuly 2013.
Letting agents for the project are Savills & FJ Burnett.
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Orchard Street Investment Management
Established in 2004, Orchard Street Investment Management LLP is a leading specialist commercial property investment manager, focused on the UK market. It acts on behalf of institutional clients world-wide to advise on investing in and the active management of property assets, including industrial, retail warehouses, offices and shopping centres. Orchard Street currently has assets under management exceeding £4 billion.