LaSalle Gains Planning Approval for Bristol Centre Revamp
Deal News | Jan 30, 2025 | LaSalle Investment Management
LaSalle Investment Management, a global real estate investment manager, together with its development partner Deeley Freed, has secured planning permission for the redevelopment of The Galleries Shopping Centre in Bristol's city centre. The project aims to revitalize the area with the construction of up to 450 new homes, 8,000 square meters of retail space, a possible 240-room hotel, and 750 student bedrooms. It includes ambitious plans for sustainable infrastructure, such as a new green transportation hub and a district heat network, supporting Bristol's sustainability goals. The redevelopment also promises to enhance public spaces by preserving historic sites and introducing high-quality open areas, shifting the focus from parking to sustainable travel options. The project aligns with Bristol City Council's vision to regenerate the city centre into a vibrant, pedestrian-friendly destination. Key figures from LaSalle and Deeley Freed expressed commitment to long-term investment and emphasized the transformative potential of the development.
Sectors
- Real Estate Development
- Urban Planning and Infrastructure
Geography
- United Kingdom – The redevelopment project is based in Bristol, a city in the United Kingdom.
Industry
- Real Estate Development – The core of the article focuses on redevelopment and urban revitalization, making real estate development a key industry classification.
- Urban Planning and Infrastructure – The project involves significant urban planning elements, including sustainability goals and the transformation of public spaces and transportation hubs.
Financials
- US$88.8 billion – The value of assets managed by LaSalle Investment Management globally as of Q3 2024.
- US$10 billion – The size of LaSalle's Debt and Value-Add Strategies platform in Europe.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| LaSalle Investment Management | Developer | Company | A global real estate investment manager, leading the redevelopment project. |
| Deeley Freed | Development Partner | Company | A Bristol-based development company partnering with LaSalle on the project. |
| Tom Lewis | Fund Manager, UK Custom Accounts | Person | Fund Manager at LaSalle overseeing the redevelopment project. |
| Max Freed | Director at Deeley Freed | Person | Director at Deeley Freed involved in the redevelopment. |
| Bristol City Council | Approval Authority | Government | The local government body that granted planning permission. |