Tithebarn will not be a ghost town
Preston will become a shopping destination to rival Manchester or Liverpool once the £700m Tithebarn redevelopment is complete, it has been claimed.
And one of Preston Tithebarn Partnership's (PTP) top bosses has hit back at suggestions the dire economic climate would leave parts of the flagship development resembling a ghost town when it is finished in six years' time.
The Evening Post grilled Richard Coppell on this grim prospect after a number of high-profile closures in Preston.
The George clothing store on Fishergate is one of the latest to close its doors, while the HSBC bank has moved.
There are currently more than 450 retail businesses for sale across Lancashire, and it is understood not all units at Grosvenor's other flagship project Liverpool One have been filled.
But Mr Coppell said: "We can't crystal ball what is going to happen. We won't be letting the shops for some time, we won't be in the letting market for three or four years.
"The housing market is the worst we have seen for decades. However, we are committed to building a mixed-use development and what I would say is we are looking at completing units and putting them on the market for sale six or seven years away.
"Once Tithebarn is done we are competing with Liverpool. It is to stop people in Preston shopping in Liverpool and get them shopping in Preston."
As well as anchor stores John Lewis and Marks and Spencer, the 1.5m sq ft Tithebarn development will create more than 100 new shop units.
Outgoing Preston Chamber of Trade boss Nicholas Watson said: "Because Tithebarn is not being built for a long time I think the impact the current situation might have on other shopping centres is going to be less detrimental to Tithebarn."
For more on this story see Friday's Lancashire Evening Post.
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Wednesday 23 May 2012
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