Mclaren Life Ltd acquired the Dolphin Square shopping centre in Dec 2010. In April 2011 planning permission was granted for a full redevelopment of the site for over 250,000 sq. ft. of retail and leisure as well as a hotel and car park on adjacent sites.
Construction of the shell of a new 112 bed Premier Inn and Brewers Fayre was completed in May 2012 and is due to open in December 2012.
A new 380 space car park was commenced in January 2012 and was opened in August 2012 and is managed by McLaren Life.
Vacant Possession of the Dolphin Square was secured in October 2012, when the principle tenant North Somerset Council relocated to new offices in the adjacent Town Hall, following a £10m refurbishment. Demolition of Dolphin Square is due to commence in December 2012 and will take approximately 5 months. Operators for the leisure and retail element that have been secured include; Vue cinemas, First Bowl, Nandos, Prezzo, Harvester, Pizza Express and Real China. The new development will commence in summer 2013 Q1 2014.
Principality Building Society provided finance for the development.
McLaren Life Ltd is a 50 / 50 joint venture between McLaren Property Ltd (part of the McLaren Construction Group www.mclarengroup.com ) and Life Property Ltd.