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MULTI-MILLION POUND WEMBLEY TOWN CENTRE REDEVELOPMENT UP FOR SALE

Wembley Central, the redeveloped Wembley town centre, has been put on sale today by St. Modwen seeking offers in excess of £37.5 million reflecting a net initial yield of 6%.

The new urban quarter, which is part of the wider regeneration of Wembley, is the result of a comprehensive redevelopment over the past nine years. It has transformed Wembley Central from a tired 1960s shopping centre into a vibrant multi purpose destination anchored by TK Maxx, Tesco, Argos, and an 86-bedroom Travelodge hotel.

The anchors are complemented by leases to national multiple retailers including Costa, O2, Sports Direct, The Gym, Perfume Shop, and EE with additional catering outlets including Creams desert cafe and Wenzel’s bakery. This new line-up has helped to create a renewed sense of place and, along with the new public square, provides a town centre focal point with meeting places and leisure activities complementing the retail opportunities.

The site, with 118,000 sq ft of retail space is next to the refurbished and upgraded Wembley Central tube station which services over 2.5m users per annum, providing excellent connectivity to central London, reaching the West End in around 20 minutes. The 24-hour multi-storey car park at the shopping centre has also been fully refurbished, providing visitors with safe and user friendly parking.

In addition 273 new homes have been created, built to a high specification, many with panoramic views across London.

Senior Development Manager for St. Modwen, Killian Morris said: “The Wembley Central redevelopment has been a comprehensive mixed-use project delivering a modern, bustling and vibrant new centre.

“With national retail brands, catering, leisure and new homes built around a key transport hub, it has been a real success story, impacting positively on the whole of the town centre.

“The result is something that we are very proud of and which has also been recognised with Wembley Central being shortlisted for a major industry award.”

The agents for the sale are Kitchen LaFrenais Morgan (KLM).