Hull Citybuild has selected Igloo as its preferred development partner for the redevelopment of the Central Development Parcel in Hull's historic Fruit Market.
The Fruit Market offers one of UK's most inspiring development opportunities with its historic fabric and enviable waterfront location.The area is set to be transformed into a stylish mixed-use lifestyle quarter through a mix of imaginative conversions and exciting new buildings. These will house a mix of residential, workspace, leisure and retail uses and create a vibrant area which will retain its old town charm and character.
With a design team led by Hull-born Richard Scott of London based Surface Architects, Igloo's vision for the Fruit Market is to build an entirely new 'destination location' for living, working and eating out. European in outlook, culturally exciting, creative and enterprising with something always going on, the Fruit Market will attract new visitors, businesses and residents who can help Hull fulfill its potential as a cosmopolitan and progressive modern city.
Public interest in the scheme is high, with more than 700 people attending an exhibition of shortlisted proposals back in October 2007.
David Taylor, Chair of Hull Citybuild and of the Fruit Market selection panel, commented: "After an intensive selection process, we are delighted to announce that our preferred development partner to bring forward the Central Development Parcel in the Fruit Market is Igloo Regeneration. Igloo's proposals for the area provide not only a world class scheme for Hull that will see the exciting rejuvenation of this unique area but also score strongly against our other strict criteria."
He continued: "This includes the design quality, mix and scale of development, access, parking and public transport; public realm development and their consideration of planning and conservation issues; how they addressed issues of sustainability; and their financial bid."
Chris Brown, Chief Executive of Igloo Regeneration, commented: "Igloo invests in mixed use, environmentally sustainable, well designed, creative neighbourhoods in the UK's top 20 city centres. We are delighted to be selected as the preferred development partner by Citybuild for Hull's Fruit Market regeneration which represents one of the best opportunities for this type of investment in the UK at the moment."
John Holmes, Chief Executive of Citybuild said: "We firmly believe that the Fruit Market represents one of the most exciting development opportunities in the UK, and we are confident that this scheme will be of the highest quality and will deliver a truly spectacular, successful long term development for Hull."
Citybuild is now in the process of finalising the development agreement with Igloo. Throughout 2008 detailed design work will be undertaken and planning applications made. Construction work on some parts of the area could commence by the end of 2008 with the main projects likely to commence in early 2009. In the meantime, Citybuild is rigorously pursuing the case for a Compulsory Purchase Order (CPO) which will ensure that all of the necessary land is assembled.
Proposals for the four remaining parcels which make up the remainder of the first phase of development in the Fruit Market are also being finalised, and details will be released over coming months. These are:
* Marina Gateway - ispace
* Central Dry Dock - Wykeland Group
* Wellington Mart - Queensway Properties
* Baltic Wharf - Lordsvale
ENDS
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NOTES TO EDITORS:
Hull Citybuild, 'Regeneration Organisation of the Year' - Regeneration Awards 2007:
On 21 June 2007, Hull City Council approved the creation of a new City Development Company (CDC) in Hull. Detailed plans for starting up the new company are well advanced and are being shared with local businesses and other key stakeholders, such as Yorkshire Forward.
The proposed new City Development Company, Hull Forward, will build on the existing success of Citybuild and Hull City Council and will look to fast track the delivery of economic development; regeneration schemes and projects across the city.
The key features of the City Development Company (CDC) will be:
* To act as the 'custodian' of a citywide Economic Masterplan;
* To operate at a citywide level;
* To develop, co-ordinate and deliver economic and physical regeneration, under the Masterplan arrangements;
* To continue, with the support of the business community, to promote Hull to achieve sustainable economic growth;
* As a company, limited by guarantee, to represent all stakeholder interests;
* To be publicly accountable and to have a private sector chair - the deputy chair will be the Hull City Council Portfolio Holder for the Economy;
* To build on Citybuild's current successes;
* To provide a coordinated and focused leadership model for economic regeneration.
Hull City Council will continue to take the lead in setting the economic strategy for the city and manage Hull's overall investment programme.
Citybuild's work will continue and will evolve into Hull Forward over coming months. It is anticipated, subject to the necessary approvals and the agreement of funding, that the new company Hull Forward will be fully operational from 1st April 2008.
THE IGLOO REGENERATION FUND
The igloo Regeneration Fund is a socially responsible, long term investor in mixed use, environmentally sustainable, well designed, creative neighbourhoods on the edge of the UK's top twenty city centres in partnership with public sector regeneration agencies and local communities. Backed by over a dozen major institutional and ethical investors like Norwich Union and managed by Morley, Europe's leading real estate manager with over £20 Billion of assets, igloo has been described by the United Nations as the world's first responsible property fund. Igloo's design team is led by Hull born and now London based rising architectural star Richard Scott of Surface architects who is also a member of the Hull Arc Design Review Panel. Igloo's design team includes Irena Bauman of Bauman Lyons, the north's leading architect and government Commissioner for Architecture and the Built Environment, Sarah Wigglesworth famous for her award winning environmentally sustainable Straw Bale House and Hodson Architects from Grimsby.
www.igloo.uk.net