Chester’s Northgate redevelopment may still go ahead

Permalink: Chester’s Northgate redevelopment may still go ahead
by Lin Freestone

ING Real Estate has reaffirmed its commitment to the development of its planned £460m Northgate scheme in Chester’s city centre.

The future of the development was in doubt following the posting of a third quarter loss by ING Bank, the Amsterdam-based parent company of the developer.

However, representatives from ING Real Estate and Chester City Council have met to discuss the scheme and have reaffirmed their commitment to delivering the project, despite the ongoing credit crunch and economic uncertainty.

Back in May 2002, ING Real Estate obtained detailed planning consent for a major mixed-use development on behalf of the Northgate Limited Partnership, which was destined to breathe new life into an entire quarter of Chester’s historic city centre.

It was planned that the development would complement the existing city centre with a series of open streets, and provide 42,000 sq m of retail including a department store and up to 70 retail units, all served by a 650 space car park.

At the hub of the development is a vibrant, open square housing a 500-seat theatre, a restaurant and a variety of residential units.

Demolition work connected with the development began in July last year.