Hereford Council and the Edgar Street Grid board have announced this afternoon that Stanhope PLC has been chosen as the main developer for the 12.5 acre area around the livestock market which will be transformed into the city's retail and leisure quarter.
The area is close to the Hereford United football ground.
According to the Herefordshire Council work will start on the retail and leisure quarter in the spring of 2010, after the relocation of the city's livestock market to a new site to the north west of Hereford. The plans include Hereford's first multi-screen cinema, a host of cafes, bars and bistros, a department store and high quality retail outlets, all helping to generate a thriving new evening economy. A new link road is planned to help ease the city's traffic congestion.
Stanhope beat off competition from two other developers to become the main developer. The company 'creates and delivers major commercial and mixed-use developments in London and the south-east have more than 20 years' experience as developers, development partners and development managers'.
Council leader Roger Philips told BBC Hereford and Worcester that Stanhope's committment was 'really very impressive'.