What Implications will York Developments have on the Rest of the City?

Posted on 13 November, 2011 by MOVEHUT

The City of York is to undergo a major commercial development, involving a community stadium and a new shopping centre, on the outskirts of the city. But could this proposal have any hidden negative implications for other parts of the city?

The development in Monks Cross, would see a 6000 seated stadium, which would host York City Knights and York City FC. The retail commercial property in York hopes to attract well known brands to the shopping centre, including Marks & Spencer and John Lewis.

The developers, Oakgate Ltd, believe the development of the commercial properties could bring a whopping £50 million a year through tourism to the local economy.

Speaking of the tourism opportunities, John Yeomans, Visit York Chairman, expressed: “Visit York strongly welcomes the opportunity, through this investment, to extend York’s reputation as an outstanding retail shopping destination, and there is no doubt attracting such a big name as John Lewis to York will have a positive impact on the city’s retail offer.”

“The level of investment involved – between £80 million and £90 million – forms a very positive endorsement of York’s strength as a business location. The opportunities for major employment growth and the chance to develop the community stadium, which in its own right offers potential as a performance, events and conference venue, are very exciting prospects.” Mr Yeomans added.

However many out-of-town rivals have opposed the plans, fearing that the new developments could potentially destroy their trade. Also the developments could have negative impacts on the city’s town centre, which already has a Marks & Spencer commercial property.

So, is it really in York’s best interest to develop a new shopping complex if it could lead to some retail commercial properties in the city centre suffering and even having to close? Or will the competition in the city give consumers a more diverse shopping experience?

The decision is not up to us, so we will have to watch this space and see what the council decides upon.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions

Covid-19 Causes Millions To Claim UK Furlough Scheme

America, Amazon Wants You!

UK Firms Battle To Survive

COVID-19 Grounds EasyJet Fleet

ECB Emergency Fight Back Aganist Covid-19

Aldi’s Expansion Plan

British Steel on the verge of collapse with over 20,000 jobs at risk

Paris watches as flames engulf one of France’s most famous landmarks

Debenhams on the brink of administration as board reject Ashley’s bid

Emmanuel Macron pushes for a new Europe with European Parliament elections on the horizon

Brexit impacts property market

Brexit uncertainty impacts the property market