Galleries Gets Green Light: Bristol Shopping Centre to Undergo Major Transformation
Deal News | Jan 30, 2025 | LaSalle Investment Management
LaSalle Investment Management, in partnership with Bristol-based developer Deeley Freed, has obtained outline planning permission for the redevelopment of The Galleries Shopping Centre in Bristol. The project includes the construction of up to 450 new homes, significant retail and leisure space, and modern employment facilities, as well as a hotel and student accommodations. This redevelopment supports Bristol City Council's sustainability goals, focusing on a low-carbon footprint and improved urban accessibility. The project also incorporates significant public realm enhancements and respects Bristol's heritage by preserving historical structures. The development aims to enliven Bristol's nighttime economy and promote sustainable travel options, highlighting LaSalle's commitment to long-term value creation.
Sectors
- Real Estate
- Construction
- Urban Planning and Development
Geography
- United Kingdom – The redevelopment project takes place in Bristol, UK.
- Bristol – Bristol is the city where The Galleries Shopping Centre is located and where the redevelopment project is being executed.
Industry
- Real Estate – The article discusses the redevelopment of a major shopping centre, involving real estate investment and development.
- Construction – The article details a large redevelopment project requiring significant construction efforts for new homes, retail, and leisure facilities.
- Urban Planning and Development – The project involves urban renewal and aligns with city regeneration plans and sustainability goals.
Financials
- US$88.8 billion – Total assets managed by LaSalle Investment Management globally as of Q3 2024.
- US$10 billion – LaSalle's Debt and Value-Add Strategies platform in Europe.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| LaSalle Investment Management | PE Firm | Company | Global real estate investment manager involved in the redevelopment project. |
| Deeley Freed | Development Partner | Company | Bristol-based developer partnering with LaSalle for the project. |
| Bristol City Council | Government | Government | Local authority supporting the redevelopment in line with city plans. |
| Tom Lewis | Fund Manager, UK Custom Accounts | Person | Representative of LaSalle Investment Management discussing the project's impact. |
| Max Freed | Director | Person | Director at Deeley Freed commenting on the redevelopment project's significance. |