Royal Pier reaches major milestone for Lucent

Lucent

A major milestone of the future development of the Royal Pier site has been reached with the signing of the conditional development agreement for Royal Pier on 28 February 2014.

The signing of this agreement between developers RPW (Southampton) Limited (a joint venture company owned by Morgan Sindall Investments Limited (“MSIL”) and funders Lucent Group (“Lucent”)), and landowners Southampton City Council, Associated British Ports and The Crown Estate brings the development of Royal Pier one step closer.

Royal Pier is one of the seven VIP Projects identified within our City Centre Master Plan. The project includes over 6,000 new jobs, over 500 homes, a hotel, and an enlarged Mayflower Park to provide a permanent home for Southampton International Boatshow. The development, which will be developed over a number of years, will transform the waterfront and help to underpin our city’s future growth and prosperity.

The existing listed Royal Pier, damaged by a fire and storms, has lain disused and dilapidated for many years but the redevelopment plans aim to transform the area.

The next stage of the process will involve public consultation and the preparation and submission of a planning application for a comprehensive mixed-use development of the site, with which RPW (Southampton) Limited will now proceed.

Lisa Scenna, managing director of MSIL, said: “We are delighted to achieve this important milestone in partnership with our funders and the landowners.”

Charles Flynn, Chief Executive of Lucent, said: “Lucent’s involvement will help to ensure the success of the development by providing secure funding and land delivery expertise.”

Simon Letts, Leader of Southampton City Council, said: “We are very excited by these proposals. The Royal Pier Waterfront development is the flagship project in our overall plan to further enhance our city’s reputation as a first-class destination to live, work and visit.”

Southampton Port Director Nick Ridehalgh, said: “We understand how important the Royal Pier site is to the future development of the City’s waterfront. Given this, we welcome the completion of the development agreement.”

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