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Tuesday, July 29, 2023

Gregory Property Group takes control in Halifax

Leeds-based developer, Gregory Property Group, has acquired its partner's interest in the high profile redevelopment of Halifax's Broad Street site. An approach by Gregory led to Miller Developments disposing of its shares in Miller Gregory (Halifax) on 30 June.

In addition, the Group has acquired Netto's large store, trading until earlier this year, on the corner of Orange Street and Broad Street which concludes the land assembly process having previously purchased the Star Inn and entered into a Development Agreement with Calderdale MBC, in November 2005, in respect of the Broad Street Car Park.

The 50m project will transform central Halifax when it completes in late 2010 bringing much needed leisure and commercial facilities to the town. These will include a multi-screen cinema, 100-bed hotel, ten pin bowling, restaurants and multi-storey car park as well as 30,000 sq ft of Grade I office space.

The project will be privately funded and evidences the private sector's confidence in the future of Halifax.

Miller Gregory was appointed preferred developer in late 2003 following a lengthy selection process by Calderdale Council. The two companies had previously worked together to bring one of the first mixed-use schemes to Leeds known as Whitehall II, close to the Queens Hotel.

With detailed planning permission expected shortly it means that work can finally start, on a scheme that has been five years in the making, in February 2009. Long term finance for the scheme is being arranged and discussions are underway with a number of parties.

Earlier this year the developer announced a deal with Vue Entertainments to operate the cinema, which will effectively anchor the leisure content of the Plaza.

Another important element is the 429 space multi-storey car park which leading operator APCOA has agreed to lease and administer with alternative short term parking being made available whilst building operations are underway. APCOA has numerous car parks throughout the UK supported by considerable representation in Europe and is at the forefront of the parking industry.

The Gregory Group is one of Yorkshire's busiest developers and has been responsible for a number of regeneration projects across the North of England. The company is currently engaged in letting space at one of the largest retail parks in the North, Foss Islands in York. This scheme, a partnership with City of York Council, is anchored by Wm Morrisons and has been fully forward funded by Axa Sun Life.

2005 saw the Group reach its 20th anniversary and a milestone of two million sq ft of contracted development - this is a feat few other local developers have achieved. Other schemes are under construction in Kirklees, Harrogate, Burnley and Teesway.