£25m investment boost for Gloucester

Author
Ian Mean
Director of Business West Gloucestershire | Business West
15th March 2018

Peel Holdings, developer of Gloucester Quays outlet centre is planning a £25 million investment in Gloucester over the next twelve months.

The developer estimates their injection of capital will generate another £100 million of private investment over the next three years.

Quays managing director Jason Pullen told me:

"The future is very bright for the City of Gloucester.

"We are taking the view that Gloucester has not even started to scratch its full potential because of its location.

"It is certainly in my view one of the greatest places to invest in this country but you have to take a medium and long term view of its potential.

"The city has enormous potential in terms of the services, the enhancement of retail and infrastructure."

The Peel journey in Gloucester started 25 years ago when their chairman, John Whittaker, realised the value of the waterside attraction of the Docks which had fallen into disrepair.

Jason added: "As an entrepreneur, John Whittaker, has a really good understanding of the inherent value of land, air and water and what it can be.

"He had a vision, not just in Gloucester but in other areas where he purchased assets like the Manchester Ship Canal. Gloucester was one of a number of strategic acquisitions where we thought they were under-valued, under-exploited and where they could reach their full potential."

Peel now own 59 acres of land including the retail outlet centre and they have so far developed 22 of the acres they own around the Docks.

The outlet centre which opened on May 21 2009, and the historic Docks have so far created 3,000 jobs, has 100 shopping units, a gym and a new ten screen Cineworld.

"No-one believes that the regeneration in Gloucestershire is finished or the job that Peel is doing is finished." said Jason.

"We hope to sympathetically continue to develop the assets we own-our journey continues to make the Docks area a wonderful place to live and extend the day offer to shoppers."

Opposite the outlet centre, Peel are now developing their retail park and a new flagship Next store is being built in the next two years.

"We are not a developer who runs away after developing something-it enables us to have a long term view", commented Jason Pullen.

"We are very proud of what we have achieved to date in Gloucester and want to achieve more."

Jason Pullen will be talking about Peel's further investment in Gloucester at a Business West networking breakfast on Thursday March 22. Click here to book.

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