- Aviva Capital Partners, Southampton City Council and the University of Southampton have formed a joint venture company, WBS Growth Partnership LLP, and have together acquired the site of the former Toys R Us for development
- The partners are intending to deliver a new neighbourhood, near the city centre and Southampton Central railway station, with innovation at its heart
- The 4.6 acre site has been vacant since 2018 and is a key site within the wider West Bay regeneration area
Aviva Capital Partners, Aviva’s in-house capital unit that invests in urban regeneration, housing and infrastructure across the UK, has formed a new partnership with Southampton City Council and University of Southampton.
The partnership has acquired and will redevelop the former Toys ‘R’ Us retail site, next to Southampton Central Station, for a new mixed-use neighbourhood focused on innovation, enterprise, and education, as well as offices and residential. The site, which is identified as a key part of the West Bay Innovation District plans, and the delivery of the Southampton Renaissance Vision are priorities in the council’s new Growth and Prosperity Plan.
WBS Growth Partnership LLP will drive the redevelopment of the vacant former Toys ‘R’ Us site, looking to start with temporary uses or consider demolition in 2026 as the plans develop.
The partnership with Southampton City Council and the University of Southampton is another example of Aviva investing in the UK, helping the country get ready for the future.
David Epstein, Managing Director, Aviva Capital Partners, said: “This project will create a vibrant neighbourhood right in the centre of Southampton, supporting local jobs, local businesses and driving the city’s growth. The partnership with Southampton City Council and the University of Southampton is another example of Aviva investing in the UK, helping the country get ready for the future.”
Councillor Alex Winning, Leader of Southampton City Council, said: "For far too long, the former Toys ‘R’ Us site has stood vacant at one of the key gateways to our city. We are determined to transform this prominent location into a place that delivers real benefits for our residents—creating new jobs, new homes and new opportunities for the people of Southampton. This new partnership marks an exciting first step in unlocking that potential and bringing this site back to life."
University of Southampton’s Vice-Chancellor, Professor Mark E. Smith, said: “This is a crucial site in Southampton with significant potential to drive future employment, growth and innovation within our city. Along with our partners we will develop a fresh masterplan for the site, focused on creating new public spaces and an innovation zone that will shape our region for the future.”
The partnership has appointed Stories as development manager for the project. The Stories team brings a wealth of experience in working with public / private partnerships and delivering high-quality, sustainable regeneration projects including at King’s Cross in London. Stories will be supporting the partnership to translate the city’s Renaissance Vision into a clear, investable delivery plan while staying grounded in local priorities and long-term value for the city.
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Additional information:
About Aviva Capital Partners (ACP)
- Aviva Capital Partners invests in development of UK real estate and UK infrastructure, helping the economy to grow and communities across the country to thrive.
- We invest Aviva’s own money across the three themes of Urban Regeneration, Housing Supply and Sustainable Infrastructure. We aim to work in partnership with public bodies, driving increased investment for nationally significant projects. Through these investments we exemplify Aviva’s sustainability ambition, creating tangible impact as well as financial return.
- The investments being made will ultimately create assets for Aviva to hold for the long term, providing investment opportunities for customers’ savings and stable returns that help secure retirement incomes.
- For more details on ACP, visit Aviva Capital Partners.
About Stories
- Stories is one of the UK’s leading purpose-led property developers, working with landowners, local authorities, universities and long-term investors to unlock complex sites and deliver high-quality, sustainable places.
- Stories act as both a principal developer and as a development manager - helping partners shape strategy, align stakeholders, secure consents and take projects through phased delivery - bringing commercial discipline alongside a collaborative, relationship-led approach.
- Stories is a certified B-Corp. See www.stories.partners for more information.
Enquiries:
Joe Booth
Financial Communications
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Phone
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+44 (0)7800 698 836
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Email
Claire Jermany Grange
Financial Communications
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Phone
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+44 (0) 7385 148 681
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Email
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