Description:
Major mixed-use redevelopment of a tired 1960’s Shopping Centre situated in the heart of Wembley town centre.
Date Acquired:
Joint venture with Rotch Property Group formed 1995.
Current Status:
The development is being built in phases. The scheme’s affordable housing (85 homes) completed in late 2008, with phase 1 of the retail scheme and the new public square following in Summer 2009 together with 117 private residential units above the retail. All of these units have now either been sold or rented. The Ramsey House office building has undergone a comprehensive refurbishment and now provides contemporary accommodation totalling 23,000 sq ft over three floors (2nd to 4th) with a large entrance foyer centrally positioned within the retail mall. In October 2009, the new public square was launched, marking the completion of the first phase of development which saw the opening of a major new 32,000 sq ft TK Maxx store, and Peacocks and Bonmarche stores totalling 15,700 sq ft. Co-operative Food opened a 10,000 sq ft store in March 2011, complementing an existing 9,000 sq ft Iceland food store. More recently, Everything Everywhere has opened a 1,800 sq ft store on the corner of the public square and Brighthouse opened a 3,675 sq ft store next door. A planning resolution for the final phase was secured in January 2012. Contracts have exchanged with Travelodge for an 86 bedroom hotel within this phase, and a 16,000 sq ft store is under offer to a national retailer.
Our Vision:
A comprehensive development which aims to re-establish Wembley town centre as a vibrant shopping, working and living quarter. The completed scheme will provide 121,000 sq ft of retail and leisure, 23,000 sq ft of offices, 240 residential units (includes 85 affordable homes), an 86-bedroom hotel with a bar/restaurant, a new public square, a refurbished multi-storey car park and a significantly enhanced train station (London Underground and Overground services).
Ownership:
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