Southampton agrees terms for Maritime Gateway scheme

Following the purchase of a 4.8 acre city centre site by Packaged Living and Fiera Real Estate earlier this year, Southampton City Council has approved the commercial and financial terms for the new Maritime Gateway scheme.

The transformation of the site will include 600 new homes, 65,000 sq ft of office space, 23,000 sq ft of retail space, 48,000 sq ft of flexible space that could be used for hotels or offices, 170 car parking spaces with electric charging points and 480 secure cycle spaces.

 Packaged Living are hoping to progress quickly with the £200 million scheme, with a planning application due to be submitted before the end of this year and a start on site next year.

Cllr Jeremy Moulton, Deputy Leader and Cabinet Member for Growth for Southampton City Council, said: ‘The new commercial and financial terms for the Maritime Gateway is another positive step forward for this key site and it is brilliant that Packaged Living are able to bring the scheme forward without the need for council investment. It is therefore likely that the funding previously earmarked for this site from the council’s capital programme will be removed.

‘We will continue to work with Packaged Living and use our influence as the landowner and planning authority to ensure this exciting, modern scheme is consistent with our corporate and social priorities for this area of Southampton. We have listened to feedback and we understand that development in the city needs to be more ambitious and deliver greater value for our residents, businesses and visitors and we will be having those conversations with investors and developers to make this happen.

‘Maritime Gateway, ideally located opposite Southampton Central train station, is one of three key development sites in Southampton coming forward at the moment. Maritime Gateway contributes to over 22 acres of land which is soon to be redeveloped in the city and over half a billion pounds of private sector investment. It is through projects like these that we will drive our economy and generate inward investment to get Southampton moving, creating more opportunities and prosperity for our city.

‘I look forward to the next stages of the Maritime Gateway scheme and the much-anticipated start on site next year which will be the beginning of a major transformation for the city centre.’

In related news, Manchester City Councils executive committee will be asked to approve a transformation masterplan for the regeneration of the Grey Mare Lane Estate in East Manchester at a meeting tomorrow.

Photo supplied by Southampton City Council