Eastgate Quarters, Leeds

RNS Number:6392L
Hammerson PLC
14 January 2008


                   For immediate release 14 January 2008
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Marks & Spencer agrees to anchor Eastgate Quarters retail scheme, Leeds
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Hammerson plc and Town Centre Securities plc have agreed terms with Marks &
Spencer to anchor their proposed 140,000 m(2) Eastgate scheme in Leeds.

At 18,250 m(2) including 14,000 m(2) of trading space, the new Marks & Spencer
store will offer a full range of fashion, homeware, food and hospitality.

Hammerson and Leeds-based Town Centre Securities gained planning permission for
the scheme, located in the Eastgate and Harewood Quarters of the city, in
February last year. The scheme, to be developed in a 90:10 joint venture, will
include 110,000 m(2) of retail and also be anchored by a 26,000 m(2) John Lewis
store. It will include over 100 retail units, restaurants and bars, a hotel,
office accommodation, up to 600 new homes and 2,700 associated car parking
spaces.

It is anticipated that construction of Eastgate Quarters will begin in 2009,
with completion in 2012. The total cost of the development is estimated at £800
million, of which Hammerson's 90% share would amount to £720 million.

John Richards, Chief Executive of Hammerson, said:

 "I am delighted that one of the UK's most successful retailers has committed to
 our scheme. This is a major step forward in our bid to bring a retail offer of
 the highest quality to the people of Leeds and the surrounding areas.  Securing
 Marks & Spencer as an anchor tenant is a great coup for the development."


Edward Ziff, Chairman and Chief Executive at Town Centre Securities plc said:

 "Marks & Spencer's decision to open a new store in Leeds gives a real boost to
 our plans for the city. We have been closely involved in Leeds for many years
 and are pleased to increase that involvement through the development of this
 exciting scheme."


Iain Perkins, Marks & Spencer Divisional Executive, said:

 "The Eastgate Quarter will be a fantastic shopping environment. We are 
 delighted to be anchoring the development with a brand-new M&S that will 
 complement our existing Briggate store and strengthen the M&S offer across 
 Leeds."


Enquiries:
---------
John Richards, Chief Executive            Tel:  [phone]
Christopher Smith, 
Director of Corporate Affairs             Tel:  [phone]
                                          [e-mail]





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