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THE BREWERY LEEDS

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<strong>THE</strong><br />

<strong>BREWERY</strong><br />

<strong>LEEDS</strong>


4 | St James Securities & Pears Property<br />

<strong>THE</strong> <strong>BREWERY</strong>, <strong>LEEDS</strong> | 1<br />

Contents<br />

1. Deliverability of Proposal<br />

1.1 Name of the Proposed Purchaser or Purchase Vehicle X<br />

1.2 Our Vision for the Redevelopment of the Leeds Brewery<br />

Site<br />

and how this Reflects the Aspirations of Carlsberg UK<br />

1.2.1 Our Vision X<br />

1.2.2 Carlsberg UK Aspirations X<br />

1.3 How we will Draws on our Experience and Track Record to X<br />

Deliver a Successful Development in a Timely Manner<br />

1.4 Our Strategy to Secure Occupiers and How Occupation will X<br />

Align with the Proposed Development Programme<br />

1.4.1 Occupier Strategy X<br />

1.4.2 How Occupation will align with the Development<br />

Programme<br />

X<br />

1.5 Leaseback Proposal for Carlsberg X<br />

1.5.1 Tetley’s House X<br />

1.5.2 New Carlsberg UK Office X<br />

1.6 Programme Through to Occupation of the First Phase of X<br />

Development<br />

2. Commercial Proposal<br />

2.1 Confirmation as to Whether Our Proposal Relates to Purchase X<br />

of All or Part<br />

2.2 Price X<br />

2.3 Timetable & Approval Processes X<br />

2.4 Timetable for Exchange of Contracts & Payment of Monies X<br />

2.5 Timetable for Completion X<br />

2.6 Confirmation that Funds are in Place to Purchase the Site<br />

including Evidence<br />

X<br />

2.7 Confirmation that Funds are in Place to Finance Planning<br />

Design<br />

X<br />

& Initial Phase of Development including Evidence<br />

2.8 Proposed Mix of Uses and Quantum for the Initial Phase<br />

of Development<br />

X<br />

2.9 Financial Appraisal Summary including Detailed Cash Flow X<br />

from Site Purchase Through to First Phase of Development<br />

2.10 Conditions X<br />

Appendices<br />

Appendix 1 Masterplan X<br />

Appendix 2 Aerial View of Leeds (SJS schemes highlighted) X<br />

Appendix 3 Expression of Interest Document<br />

X<br />

Appendix 4 Leeds Beckett University Letter of Support X<br />

Appendix 5 LEP Prospectus<br />

X<br />

Appendix 6 Programme<br />

X<br />

Appendix 7 Site Plan<br />

X<br />

Appendix 8 Pears Property Bankers Letter (originally submitted<br />

with the original Expression of Interest)


2 | Invitation to Tender <strong>THE</strong> <strong>BREWERY</strong>, <strong>LEEDS</strong> | 3<br />

The brewery site is one of the largest sites<br />

that will ever become available in Leeds City<br />

Centre and is without doubt the best.<br />

Deliverability<br />

of Proposal<br />

1.1 Name of the Proposed Purchaser or Purchase Vehicle<br />

A Pears family company.<br />

1.2 Our Vision for the Redevelopment of the Leeds<br />

Brewery Site and how this Reflects the Aspirations<br />

of Carlsberg UK<br />

1.2.1 Our Vision<br />

The brewery site is one of the largest sites that will ever become<br />

available in Leeds City Centre and is without doubt the best. Its size<br />

and strategic location provide the ingredients for a development<br />

that has the ability to both build on and drive forward property<br />

markets in Leeds for a generation. We need to recognise and<br />

respect this potential.<br />

Significant work has been carried out by Leeds City Council in<br />

relation to their vision for the Brewery site and the South Bank as<br />

a whole. This is principally set out in the 2011 South Bank Planning<br />

Statement and the emerging Aire Valley Leeds Area Action Plan.<br />

This vision is built upon the ambition of the former Leeds City<br />

Architect, John Thorp, who joined the City Council in 1996 and<br />

during his time in office undertook a rigorous analysis of the<br />

Leeds city area with a view to mapping and providing a strategic<br />

framework for the renaissance, evolution and growth of the city. Key<br />

to John’s vision was the laying out of a large city centre park. Leeds<br />

has some of the largest municipal parks, and the greatest amount<br />

of green space per head of population of any major city. However,<br />

due to its evolution as an industrial city, most of these green spaces<br />

are located outside the centre as historically the wealthier people<br />

didn’t live in the dirty, noisy industrial centre. They preferred to live<br />

in the cleaner and quieter suburbs and villages surrounding the city.<br />

John’s aspiration was to provide a public park in a central location<br />

in an emerging part of the city. In doing so John hoped to provide<br />

the city centre with a facility to, amongst other things, increase its<br />

attractiveness as a residential location. John wanted to encourage<br />

people and families to live in the city centre.<br />

Another consequence of Leeds’ industrial heritage is that the<br />

city didn’t develop the infrastructure necessary to support the<br />

full complement of residential options in the city centre. At the<br />

same time as John Thorp was envisaging the growth of the city<br />

through his famous “flower diagrams” and exploring the benefits<br />

a park could bring, other groups such as the Leeds Sustainable<br />

Development Group were promoting the incorporation of primary<br />

and secondary education in the city centre to introduce the<br />

infrastructure required to further make the city centre an attractive<br />

place for families to locate. Such moves have successfully resulted<br />

in the relocation and consolidation of Leeds City College, the<br />

relocation of the College of Building and the establishment of the<br />

Ruth Gorse Academy, which will be one of the country’s largest<br />

secondary schools, serving 1,500 pupils and which is scheduled<br />

to open in September 2016. Whilst we have been preparing this<br />

document an announcement has been made that a University<br />

Technical College (UTC), to provide vocational education for<br />

600 students aged 14-19 with the curriculum focused on science,<br />

technology, engineering and maths, will open in September 2016<br />

located at the Braime Pressings Factory a short walk from the<br />

Brewery Site on Hunslet Road. All these educational initiatives are<br />

now located or locating in the South Bank area and will transform<br />

the areas credentials as a realistic and viable location for family<br />

housing. High profile influencers include people like Rachel<br />

Unsworth of the University of Leeds whose work on creating the<br />

right socio-geographic environment to allow a post-industrial city<br />

to thrive has informed these policies and this ambition generally.<br />

John’s aspiration<br />

was to provide a<br />

public park in a<br />

central location in<br />

an emerging part<br />

of the city


4 | Invitation to Tender <strong>THE</strong> <strong>BREWERY</strong>, <strong>LEEDS</strong> | 5<br />

Site Key<br />

Apartments<br />

Office<br />

Retail/Leisure<br />

Multi Storey Car Park<br />

Business Village<br />

Education<br />

Parking<br />

Data Centre<br />

Carlsberg Ownership Boundary<br />

In short, a lot of people have already fed into the vision for the<br />

South Bank area with the Brewery site at its heart. This ambition<br />

is to push the core city centre boundary to the south to create<br />

room for the city to grow, it being constrained in all other directions<br />

by the ring road and in doing so build a new city quarter that is<br />

attractive for commerce, leisure and living and which offers the full<br />

range of municipal and civic facilities required to make such a place<br />

a success. Our aim is to build on this vision and implement this<br />

ambition. Having been one of Leeds’ core developers for over thirty<br />

years we know the people and organisations that it is necessary to<br />

work and engage with to deliver this vision on the ground.<br />

It is fair to say therefore that we wish to build a new place, one that<br />

works for business where small start up’s and large established<br />

companies, private, corporate and public sector alike can be based<br />

in a range of appropriate types of office. We want to see the area<br />

developing into a 24 hour neighbourhood where people can live as<br />

well as work and in this regard we want to provide accommodation<br />

options to suit a diverse demographic mix from single people living<br />

alone through to housing options for families with small children and<br />

older children alongside retirement living opportunities across the<br />

tenure categories. To support both the commercial and residential<br />

uses we will provide retail and leisure spaces and as trumpeted in<br />

the paragraphs above this will all be located around a large publicly<br />

accessible park and other civic and municipal facilities. We hope<br />

to build on the educational achievements already realised in the<br />

South Bank and will go into this in more detail in section 1.4. The<br />

net result of this is that the Brewery site will be transformed into<br />

the heart of a vibrant and attractive new extension to Leeds City<br />

Centre.<br />

1.2.2 Carlsberg UK Aspirations<br />

We believe that Carlsberg UK’s aspirations are twofold. Firstly, and<br />

as a commercial prerogative, to secure the highest capital receipt<br />

for the site and secondly to ensure that the party they choose<br />

to sell the site to has the ability, capacity and intention to bring<br />

forward the redevelopment of the Brewery in a timely manner.<br />

Our development strategy is to work up a masterplan for the site<br />

with regard to both the Supplementary Planning Guidance and<br />

the Area Action Plan. (Whilst you have specifically not asked for<br />

architectural masterplans, it has been necessary for us to devise<br />

one to allow us to appraise the site to in turn work up our offer, and<br />

our masterplan is enclosed at Appendix 1 for your information). We<br />

intend to prepare an outline planning application, for the whole site<br />

and having met with the Chief Planning Officer, Tim Hill, on the<br />

30th of June in relation to this proposal we understand that this is<br />

the route the local authority would wish the developer to adopt,<br />

supported by a Planning Performance Agreement and working with<br />

members in the pre-application stages. Having secured a consent<br />

it is our conviction that in order to “kick start” the development of<br />

an entirely new urban quarter that the first phase of development<br />

should be of a significant scale such that it provides the market<br />

with an unequivocal statement of intent that our proposals are both<br />

serious, and importantly will have a lasting impact on markets in<br />

the future. At the same time we recognise that good place-making<br />

is most often not best served by the hand of a single architect,<br />

or indeed even a single developer. What makes places work are<br />

elements such as variety, contrast, quirkiness, points of interest,<br />

indeed the things that distinguish places from each other. No<br />

one developer or architect has a monopoly on good ideas so we<br />

propose to secure delivery of a significant first phase by looking<br />

to work with others. Within the context of our masterplan we will<br />

bring in three or four partners and will therefore be able to create a<br />

What makes places<br />

work are elements<br />

such as variety,<br />

contrast, quirkiness,<br />

points of interest,<br />

indeed the things that<br />

distinguish places<br />

from each other.


6 | Invitation to Tender <strong>THE</strong> <strong>BREWERY</strong>, <strong>LEEDS</strong> | 7<br />

6<br />

5<br />

Our local knowledge will give us speedy access to the right people at the right time and<br />

our experience across the use classes will ensure that we can translate the vision through<br />

planning and detailed design to procurring bricks on the ground.<br />

7<br />

8<br />

St James Securities developments total more than 1.5m sq.ft. of<br />

residential and commercial accommodation within a 1,250 metre<br />

radius of The Tetley Gallery.<br />

critical mass of first phase development that wouldn’t be possible<br />

for a single developer given the quantum of development and mix<br />

of uses. This “splash” needs to be sufficient to change perceptions<br />

in the local market and give the scheme impact.<br />

We believe this approach will secure a large volume of development<br />

quickly to deliver critical mass which will in turn fuel demand. This<br />

will ensure the site is developed quickly and in this way strategically<br />

we believe we meet Carlsberg’s aspirations.<br />

1.3 How we will Draw on our Experience and Track<br />

Record to Deliver a Successful Development in a<br />

Timely Manner<br />

Enclosed at Appendix 2 is an aerial view of Leeds with the Brewery<br />

site highlighted in red. The sites highlighted in blue are St James<br />

Securities developments and they total more than 1.5m sq.ft. of<br />

residential and commercial accommodation that we have delivered<br />

within a 1,250 metre radius of The Tetley Gallery. The grey-washed<br />

areas are sites where we have secured planning consents being<br />

implemented by others and these extend to a further 2.5m sq.ft. We<br />

have therefore been involved in more than 4m sq.ft. of residential<br />

and commercial accommodation within walking distance of the<br />

site. Leeds is a regional property market and were one to conduct<br />

an analysis of residential and commercial developments over the<br />

last thirty years the great majority of it would be found to have<br />

been delivered by Leeds based or Yorkshire based developers<br />

either directly or in joint venture arrangements. The great benefit<br />

we have if we are able to secure the Brewery site is that we know<br />

this city, the politicians, council officers and other stakeholders, all<br />

of whom will have a role to play in the delivery of the site.<br />

Our track record as set out in the Expression of Interest document<br />

(partially reproduced over thje follwiing x pages) shows that we have<br />

experience across the use classes and it is breadth of experience<br />

which you require in your chosen developer to ensure that they<br />

have the expertise and skill sets necessary to bring forward what is<br />

in effect a mixed use development.<br />

Our local knowledge will give us speedy access to the right people<br />

at the right time and our experience across the use classes will<br />

ensure that we can translate the vision through planning and<br />

detailed design to procurring bricks on the ground.<br />

7<br />

6<br />

2<br />

3<br />

1<br />

4<br />

Development Site<br />

The Tetley<br />

Key<br />

The Brewery Site<br />

St James Securities developments<br />

1. Bridgewater Place 2. Round Foundry<br />

3. Granary Wharfe Offices 4. The Embankment<br />

5. The Light 6. The Electric Press<br />

7. Wellington Place 8. Lisbon Square<br />

Secured planning consents being implemented by others<br />

3 4 5


8 | Invitation to Tender <strong>THE</strong> <strong>BREWERY</strong>, <strong>LEEDS</strong> | 9<br />

Bridgewater Place, Leeds<br />

Developed in our joint venture Landmark St James, Bridgewater Place is the largest single<br />

building we have developed to date. It is a 32 storey office and residential tower and was<br />

completed in 2007.<br />

There are a large number of high profile office tenants in the building including Eversheds,<br />

Ernst & Young, BDO Stoy Hayward, DWF and hair products company GHD have their head<br />

office here also. There are various retail units at ground floor including a Tesco Express,<br />

Philpotts, Starbucks, Fudi and Casa Mia.<br />

The offices extend to more than 25,000 m² and there are 200 apartments in the tower


10 | Invitation to Tender <strong>THE</strong> <strong>BREWERY</strong>, <strong>LEEDS</strong> | 11<br />

St Paul’s Place, Sheffield<br />

St Paul’s Place is a key element in the transformation of Sheffield City Centre. The<br />

development has seen the creation of a new prime pitch for offices and complements this<br />

with an exciting mix of cultural, retail, residential and restaurant uses to create a new part of<br />

the city. The offices adjoin The Millennium Galleries and The Winter Gardens and overlook<br />

The Peace Gardens next to the Town Hall. The masterplan integrates these buildings around<br />

a new square, St Paul’s Place, and includes a 32 storey residential tower and the award<br />

winning ‘Cheese Grater’ car park. The scheme was developed by CTP St James, one of our<br />

joint venture companies working in partnership with Sheffield City Council and Creative<br />

Sheffield. The residential element of the scheme was<br />

delivered by City Lofts.<br />

No.1 St Paul’s Place, 7,200 m² offices and 1,000 m² ground floor retailing, was completed<br />

in 2005. No.2 St Paul’s Place, also 7,200 m², was completed in 2009, as was the 520 space<br />

multi-storey car park.


12 | Invitation to Tender <strong>THE</strong> <strong>BREWERY</strong>, <strong>LEEDS</strong> | 13<br />

Round Foundry, Leeds<br />

This award winning development, the birthplace of the industrial revolution in Leeds, won<br />

the RICS award for International Regeneration Project of the Year in 2005 – testament<br />

to the quality of design and construction adopted by our team. The Round Foundry was<br />

originally built by Matthew Murray in the 18th century and is the oldest remaining specialist<br />

engineering works in the world. The site was developed by our CTP St James joint venture<br />

converting and adapting the existing structures sensitively, with modern elements to create<br />

an urban village just a few minutes walk from Leeds train station.<br />

The village is made up of 7,000 m² of offices together with apartments, two pubs, two<br />

restaurants, a juice bar, deli, café, newsagent and a small art gallery. The most recent phase<br />

was completed in 2008 and attracted a mix of tenants including an architects’ practice,<br />

Welcome to Yorkshire (The Yorkshire Tourist Board) and a barristers chambers.<br />

Phase 1 benefited from various grants from Yorkshire Forward whilst Phase 2 was the<br />

beneficiary of ERDF assistance.


14 | Invitation to Tender <strong>THE</strong> <strong>BREWERY</strong>, <strong>LEEDS</strong> | 15<br />

M&S Simply Food, Harrogate<br />

St James Securities worked as Hornbeam Park Developments Ltd’s Development Manager<br />

to deliver a new M&S Simply Food Store on a prominent gateway site on the Leeds Road<br />

approach to Harrogate Town Centre.<br />

We identified the opportunity and negotiated the site acquisition (including securing a<br />

relocation site and deal for the vendor), identified and secured the pre-let with the operator<br />

M&S, worked up and secured planning permission and delivered the completed store to<br />

M&S in June 2014.<br />

The store is one of the largest Simply Food stores in the M&S portfolio at 3,142m².<br />

Morrisons, Ilkeston<br />

Derby College selected St James Securities as their development partner to secure planning<br />

permission for and to deliver a new food store on the site of their Ilkeston Campus in 2012.<br />

The site proceeds provided the College with the funds necessary to build a new Campus<br />

in the town centre. St James Securities secured permission for a new 65,000 sq ft food<br />

store and 39 houses and agreed a lease deal with Morrisons who wanted to trade in the<br />

town. The retail development was forward funded by British Steel Pension Fund and the<br />

construction works were completed in 2014.<br />

The store opened in January 2015. The housing element was sold to local house builder<br />

Michael Goodall Homes in February 2015. This was a challenging project on many fronts<br />

however the project was delivered on time and to budget.

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