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Development Agreement Signed for Royal Pier Development in Southampton

Development Agreement Signed for Royal Pier Development in Southampton

The £450 million Royal Pier development has moved one step closer to reality with the signing of the development agreement between the developer and the landowners.

Development Agreement Signed for Royal Pier Development in Southampton

The development agreement between the developer and the landowners for the Royal Pier development has now been signed.

Drawn up by RPW Southampton, the plans are to develop a luxury hotel, restaurants, bars, a casino, flats as well as an extended Mayflower Park, thereby creating the nation’s most appealing seaside destination.
It has been said that this project will create over 7,000 jobs and will have a positive impact on the Southampton area.

The owners of the Royal Pier site include the Crown Estate, the city council as well as the Associated British Ports (ABP) and with the signing of the recent agreement, the responsibility to develop this area has now been handed over to RPW.

Later this year, public consultation will be carried out while the planning application to develop this site will also be prepared. Meanwhile, two gambling giants, Asper and Grosvenor, are competing to run the Southampton super casino.

There are currently only two super casinos in the UK which are run by Aspers in London and in Milton Keynes. Southampton now also has one of the eight licences in the country allowing them to run a super casino.

The bid for the casino will start on the 1st of April so it will be interesting to see if any other casino operators will try to jump in on the action.

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Raised close to London’s financial district, Ben has always found the world of business and money fascinating. While completing a degree in business studies Ben started writing for his university newspaper and hasn’t stopped since. Over the last decade Ben has gathered a wealth of experience writing about business and the financial markets and he is pleased to be able to share it with you here.

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