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10th Dec 2014

Turnstone acquires Southend site for £50M mixed-use scheme

Turnstone Estates has agreed the conditional acquisition of a 2.3 hectare site in Southend-on-Sea with Southend on Sea Borough Council and announced plans for the development of a £50m leisure and residential scheme.

The proposals for the land at Lucy Road, which is currently occupied by the Seaway car park, include a ten-screen cinema, eleven restaurant units and a 99-apartment residential scheme. A 480-space multi-storey car park is also planned to replace the current 453-space surface parking.

Turnstone Estates has pre-let the first three units to The Restaurant Group, which operates the Coast to Coast, Frankie & Benny’s and Chiquito restaurants. The cinema operator is due to be named shortly. The leisure scheme, which totals 136,000 sq ft, is expected to generate around 450 jobs.

Also included in the plans are the site of the former Rossi Ice Cream Factory and Number 29, Herbert Grove, which were purchased by the Council in 2008 to enable future regeneration, in a deal funded by the Homes and Communities Agency which is fully supportive of the proposed development.

Public consultation on the proposed development will begin in the Spring and, subject to planning, Turnstone Estates hopes to start work on site in late 2015.

Turnstone Estates director, Tim Deacon, comments: “The Seaway scheme will finally deliver the cinema and restaurant destination which the town has been lacking for many years. The site is in a strong location, close to the seafront and the Royals Shopping Centre, and we believe our proposals will enhance the area, as well as safeguarding local parking provision. We are looking forward to working with the Council, local residents, seafront traders, St John’s Church and other key stakeholders over the coming months.”

Alan Richards, Group Manager for Asset Management at Southend on Sea Borough Council said “I am delighted that we are able to announce this exciting development. The job creation and private sector investment in this regeneration scheme provide a once in a generation opportunity to bring real change to this part of the town and to increase the year-round leisure offer for residents and for the 6 million plus visitors to the town.”

Wareing & Partners, DTZ and Birketts acted for Turnstone Estates. Savills and Essex Legal Services acted for Southend-on-Sea Borough Council.

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