Castle Acres Retail Development
What is it?
A large expansion of Fosse Park Shopping Centre made up of fashion based retail outlets, restaurants and cafés. A new food court allows pedestrian access between the new Castle Acres development and the older part of the Fosse Park site.
The development also provides additional car parking provision, 8 Tesla electric vehicle charging points and covered cycle parking.
Castle Acres opened to the public in April 2021.
Where is it?
The new development is located on the site of the old Everards Brewery between Fosse Retail Park to the north and east and Soar Valley Way to the south.
What benefits will it bring to the district and local community?
The development will provide a wide range of benefits to the local economy, including:
- £87.8m of construction and fit-out investment supporting an average of 230 jobs per month over two years
- £54m of Gross Value Added (“GVA”) to the economy over the construction period
- Up to 2,015 gross jobs. This equates to around 1,000 full-time equivalent jobs
- Total gross value added generated by activity on-site of £29m every year during operation
- Estimated business rate revenue of £7.9m per annum of which £2.3m would be retained locally within the District of Blaby and Leicestershire
- An estimated total wage bill of £16.3m annually, with reductions in the benefits bill for every new employee coming off benefits or income support
- A further contribution to Leicester City Council of £180,000 towards a 3-year funding package to develop and implement a skills strategy. The funding package will support the employment of an Employment and Skills Co-ordinator to be based at Leicester City Council
- A contribution of £2.5 million to Leicester City Council towards measures to mitigate the retail impact evidenced upon Leicester City Centre
What transport provisions will be in place?
- Contributions to Leicester County Council of £1.5 million towards highway improvement measures and £1 million towards the provision of a Sustainable Travel Strategy
- A travel plan to consider the opportunities to improve sustainable travel opportunities and be linked to the measures identified below
- Appointment of a Framework Travel Plan Coordinator for a minimum five-year period
- The provision of a travel pack and a one-month Flexi ticket per employee to be provided from first employment
- A bus strategy to consider the extension of existing services into the evening to help improve opportunities for employees to travel home from work by sustainable travel modes
- A £25,000 contribution towards the monitoring of nitrogen dioxide emissions
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Last updated 1 October 2024
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