Kier Property and Lingfield Securities have established a joint venture, named Lingfield (Catterick) Limited, to deliver the £25m redevelopment of Catterick Garrison town centre, the largest British Army Garrison in Europe, which could create up to 700 new jobs. A planning application has been formally submitted to Richmondshire District Council and a decision is expected within the next two months. The proposed 150,000sq ft town centre scheme to transform the former sports ground on Gough Road is currently owned by the ministry of Defence (MoD). Once completed, it will include major retail units, a five-screen cinema, cafes, restaurants and bars, and a 60-bed hotel with 400 car parking spaces. Jonathan Hart, chief executive at Lingfield Securities, said, “These plans represent an important milestone in Catterick Garrison’s history and we have taken great care to engage with local people and respect the special heritage of the town. If we get planning consent, the development will create hundreds of jobs in the area and attract further inward investment into the town and the surrounding area.” Tom Gilman, director at Kier Property, said, “The proposed retail and leisure development of Catterick Garrison will breathe new life into the town centre and the public consultation was an overwhelming success, with hundreds of residents telling us they wanted to see our development progress quickly.
If all goes to plan, this will greatly modernise and expand facilities in the town centre for the benefit of local residents. “In terms of investment, we are in a strong position and will wait for the right market conditions to ensure our shareholders get a positive return.” Last year, Kier’s Property division established a solid platform with a £750m development pipeline, a £250m affordable housing pipeline and a stable private housing business, and can be expected to deliver a sustainable level of profits over the next few years.