At the same time the financial safeguards have been put in place with German institutional investor, Commerz Grundbesitz Investmentgesellschaft, signing a funding agreement to forward purchase the scheme from AM.
AM's design for the development encompasses 17 new buildings, a two-level covered street as well as a large glazed dome for the new Victoria Square. Martyn Chase, partner at Donaldsons, responsible for introducing the scheme to AM, said: "The signing with CGI and DSD this week means that Victoria Square is ready to start construction."
Donaldsons will be retained as development consultants and leasing agents.
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