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Transactions - MAY 19, 2017

Hammerson JV proposes £1.4b redevelopment in London

by Released

Hammerson and Standard Life Investments submitted a detailed planning application to Barnet Council for the £1.4 billion ($1.8 billion) redevelopment of Brent Cross Shopping Centre in London, doubling its size by more than 12 million square feet.

The new plans include the refurbishment and extension of the shopping center with more than 200 new retail stores, 60 restaurants, a cinema, hotel accommodation, a new town square and enlarged bus station. Also, an additional 7,600 parking spaces will be developed.

The plan is part of the of the £4.5 billion ($5.9 billion) regeneration of Brent Cross and Cricklewood being undertaken by Hammerson and Standard Life.

If the plans are approved, construction is expected to start in the beginning of 2018.

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