Contact the Capital Investment team for more details about this opportunity

Opportunity Axiom - Brand Playground

An opportunity to become a long-term partner in Axiom. The project promoter is interested in speaking with long term funding sources for this retail investment opportunity of around 400 million GBP gross development value (GDV).

The project will showcase some the world’s largest brands, including Boots, H&M, JD Sports, Mango, Marks & Spencer, New Look, Next, Primark, Starbucks, Telefonica, Vodafone and Watches of Switzerland. It will become Yorkshire’s regional shopping centre.

Contact the Capital Investment team for more details about this opportunity.

Artistic impression of a new regional shopping centre at night with a full car park at the front
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Location

Junction 32, M62, Yorkshire, UK

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Project promoter

Highgrove Group Plc & Lateral Property Group

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Scale

End value of £400+ million GDV

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Sector

Retail, Commercial, Leisure

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Investment type

Long term investment finance and potential equity dilution

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Planning status

Planning Permission secured

A map showing the location of Wakefield and the major transport links across Northern England

Project background

Axiom is a large single-phase commercial development project situated in the North of England. It will be a 43 hectare (106 acre) ‘next generation’ retail and leisure destination, comprising in excess of 75 retail, restaurant and leisure units, along with a Community Stadium which will be home to Castleford Tigers RLFC all set within a contemporary country park. Axiom is one of the most significant out-of-town retail developments in England and is one of the largest out-of-town retail planning consents to be granted in the UK in recent years.

Axiom is located in the heart of Yorkshire, the UK’s largest county, with direct access from Junction 32 of the M62 motorway (1 mile from the A1 and 8 miles from the M1 motorway). Axiom’s accessibility means it will reach a substantial catchment of 9 million people within a 60 minute drive time.

Having received substantial local support through the planning process, Axiom has all required planning consents to commence site works and will deliver significant community benefits. It will deliver over 2,000 new jobs along with Section 106 planning contributions in excess of 39 million GBP.

About the project

In conjunction with neighbouring Xscape (which houses one of only 6 indoor snow slopes in the UK) and J32 designer outlet, Axiom will be at the heart of a regional retail and leisure destination totalling approximately 140,000 square metres (1.5 million square feet). Retail analytics specialist CACI predict Axiom will be one of the UK’s top performing regional retail destinations by turnover performance and that it will be a top 30 retail destination by market potential.

Axiom has been designed by leading global architects, Chapman Taylor, to accommodate both ‘next generation digital flagship’ stores alongside smaller format ‘brand showcase’ units. This will provide the ultimate platform for brands to physically interact with their customers and followers.

Key project details:

  • 56,000 square metres of retail floor space.
  • Around 50% pre-let to major retail brands (by floor area).
  • New 10,000 capacity community sports stadium.
  • Part of a wider 140,000 square metre retail land leisure destination.
  • 43 hectares of land in single ownership.

Promoters and partnerships

The principal companies behind Axiom are Highgrove Group Plc and Lateral Property Group. Key partners include GMI Construction Group plc, Wakefield Metropolitan District Council and Leeds City Region Enterprise Partnership.

Wakefield Metropolitan District Council is the local authority that administers planning applications within the area. The project is located within the West Yorkshire Combined Authority and Leeds City Region Local Enterprise Partnership, and also forms part of the Northern Powerhouse.

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Find out more about Axiom.