Set against a backdrop of unprecedented difficulties in the retail sector and in the face of the most difficult retail leasing market for more than a decade, the fact that the 500,000 sq ft centre is almost 90% let on opening, marks it out as an overwhelming success story.

That Trinity Walk is opening at all is a testament to the foresight, experience and expertise of the members of the consortium behind the project – AREA Property Partners, Sovereign Land and Shepherd Construction – which was backed by an £82 million loan from Lloyds Bank Corporate Markets as well as smaller loans from Wakefield Council (£2 million) and the RDA, Yorkshire Forward (£5 million).

With the centre now open and trading, it is easy to forget that Trinity Walk was one of the most high profile casualties of the recession.  The original developers went bust in the middle of 2009, with the scheme started but less than quarter built.

Just 6 months later, in December 2009, the innovative partnership between international real estate fund manager AREA, London-based property developer and asset manager Sovereign Land and Yorkshire-based contractor Shepherd Construction had put together a package to rescue the scheme.  It purchased the site from the administrators in December 2009 and, after making a series of subtle changes to the layout, design and finishes, got the Shepherd Construction team back on site to start building it again in February 2010.
From February 2010 construction of Trinity Walk proceeded rapidly and, as both contractor and a member of the development consortium, Shepherd Construction has ensured that the project has reached completion on time and on budget.

Richard Vining, chief executive of Shepherd Construction, added: “It is fantastic to see Trinity Walk finally open for business. It is testament to the grit and determination of all those involved, including our construction team and our development partners, that the shopping centre has been successfully completed and attracting such a high calibre retail line-up. Rightly, we can be proud of this achievement, particularly as Trinity Walk is the first of only three shopping centres opening across the UK this year.