Kings Quarter Major Regeneration Project - Gloucester 
Exclusive negotiations with a major developer for the King's Quarter site in Gloucester have been entered into by Gloucester City Council. 
Over the coming months Stanhope PLC will work up a concept scheme for the Kings Quarter area of the city which is bordered by Bruton Way and Northgate Street, and covers King's Square and the bus station. 
The scheme is likely to include new shops, bars and restaurants, residential and office facilities, as well as high quality public squares and spaces, parking and a brand new bus station.
To ensure the planned development is what Gloucester residents and stakeholders want there will be a period of public consultation before work begins.
Paul James, leader of Gloucester City Council and cabinet member for regeneration said: "Kings Quarter is the top regeneration priority for Gloucester City Council and will radically transform and upgrade a tired part of the city centre. Once delivered it will give a massive boost to the city's economy and its performance as a shopping and leisure destination.
"These are early days and there is a long way to go but we are delighted to be working with Stanhope plc, which has a very impressive track record."
Martyn Chase, Director at Stanhope said "Stanhope is delighted to have been chosen by Gloucester City Council to explore this exciting city centre regeneration project. Gloucester is a great historic city but it doesn't currently have the right size and quality of units to satisfy modern retailers. 
"It needs a quality King's Quarter scheme to reach its full potential and get the city centre performing at its best. We have a strong track record in city centre development and are looking forward to getting to work on this project with Gloucester."
Chris Oldershaw, Chief Executive of the Gloucester Heritage Urban Regeneration Company (GHURC) said: "Stanhope is a highly committed developer with an excellent pedigree. This is further indication of sustained investor confidence in Gloucester. We look forward to working with them on delivering a first class scheme for the city."
Stanhope PLC has entered a formal exclusivity period with the council. The company has a strong track record spanning over twenty years with schemes totalling over £12 billion in value.
ENDS