Major investment into the heart of the city announced
Thursday August 5th, 2021
Fiera Real Estate and Packaged Living have announced the purchase of a 4.8-acre site in Southampton, Hampshire to develop a large mixed-use scheme boasting build to rent, office and hotel uses.
The new scheme will include Build-to-Rent units, Grade A offices and a hotel and expected to bring £200m GDV to the City.
The site is prominently situated directly opposite the city’s central railway station and less than 5 minutes’ walk to the city centre. It is a short distance away from a diverse mix of retail, hospitality and cultural uses, and it is ideally located to provide sustainable, urban living, together with suitable employment uses.
Packaged Living will redevelop the existing retail warehouse site, previously occupied by Toys-R-Us, in four phases which have been designed to take account of the emerging masterplan for the Mayflower Quarter area and will comprise of apartments alongside fantastic amenities, retail, hotel and commercial space as well as vibrant new public realm.
The scheme has been designed to meet the pressing need for new homes within the city centre and will help to enhance the quality of life for the growing population in the area. The population in Southampton has grown by 13% over the past 15 years and is expected to grow by a further 5% by 2025. The development will also provide opportunities for new jobs and provide vital investment at an important time.
As with all Packaged Living schemes, environmental and social values are at the heart of the design and the scheme will be targeting net zero carbon construction targets and selecting low embodied carbon in specified building targets.