Land Securities - Retail - Birmingham, Bull Ring

Date: 18 Feb 2000

Land Securities PLCand its Birmingham Alliance partners, Henderson Investors and Hammerson plc, have exchanged contracts with Selfridges for a major new store in the new Bull Ring, Birmingham.

The 260,000 sq ft (25,000 sq m) Selfridges will be the largest store in the new development and together with Debenhams will provide very strong anchors to the new centre. Following this latest agreement more than half a million square feet of the total development has been let. Selfridges intend to invest �40 million to create a distinctive and progressive landmark store to house their total shopping experience.

Commenting on the announcement, Vittorio Radice, Chief Executive, Selfridges said "we are delighted to have secured this site in the new Bull Ring for our third store and to be playing a part in the regeneration of one of the UK's major cities. We hope this new store will build on our success in Manchester and we are continuing to search for further sites in the UK."

Work at the new Bull Ring is progressing well. with the indoor market hall on schedule to open for Christmas trading 2000. The Compulsory Purchase Inquiry opened and closed on the same day (8th February 2000) with statutory objections settled in advance. Demolition of the Bull Ring is planned for Spring 2001 - marking an important step towards the completion of Europe's largest retail regeneration programme and Birmingham's retail renaissance.

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