Merrion Market To Be Replaced With Strip Of Bars

TOWN Centre Securities, the Leeds-based owner of the Merrion Centre, is looking to redevelop part of the building ahead of the opening of the Leeds Arena.

In its results for the year to June 30 2011, TCS said the new 13,500 seat arena, due to open in  2013, had presented the firm with 'a number of opportunities including a leisure development of bars, restaurants and a gym to replace the former Merrion Market creating a new frontage for the Centre. 

'A detailed planning application has been lodged and subject to a satisfactory consent, we expect to be on site first quarter of 2012 with a completion to coincide with the Arena opening in Spring 2013. 

'In addition we will shortly complete the refurbishment of the retail units and offices on Merrion Street where we have pre lets to KFC, Coral and Q Park.'

The Merrion Centre, which accounts for 42 per cent of the company's investment portfolio, grew in value by six per cent to £117.3m (2010: £110.7m) with income rising by 3.8 per cent.

TCS also took over the operation of the Merrion Centre car park last June,  and daily parking numbers have increased by eight per cent, which the firm said had 'a positive impact on the retail footfall.'

TCS also said it was beginning to see' renewed interest' in its Whitehall Riverside site in Leeds 'from some of the larger professional practices who are considering relocation.'