Hammerson has increased its ownership stake in the Brent Cross Shopping Centre, solidifying its commitment to the €1.4bn redevelopment project aimed at transforming the iconic North London retail hub. The expansion plans, developed in partnership with Standard Life Investments, intend to double the centre's size to approximately 185,800 m², incorporating over 200 new retail stores, 60 restaurants, a cinema complex, hotel accommodation, and a new town square.
The redevelopment is a central component of the larger €5.2bn Brent Cross and Cricklewood regeneration initiative, which includes the construction of 6,700 homes, workspace for 25,000 people, and significant transport improvements. The project aims to create a vibrant urban quarter, enhancing the area's appeal to both residents and visitors.
In addition to retail expansion, the plans feature improved public spaces, including a new Riverside Park and a green landscaped boulevard that will span the North Circular, creating a pedestrian-friendly environment. The development also promises to generate up to 3,500 retail jobs and 5,000 construction opportunities, contributing to the local economy.
Hammerson's increased investment underscores its strategy to rejuvenate its portfolio of city-centre assets by introducing innovative attractions and experiences. Recent initiatives include the introduction of padel tennis facilities at Brent Cross, aiming to diversify the centre's offerings and attract a broader audience.
The redevelopment is poised to redefine Brent Cross as a leading retail and leisure destination, blending modern amenities with sustainable design to meet evolving consumer expectations. Investors and developers are closely monitoring the project's progress, recognising its potential to set new benchmarks in urban regeneration and mixed-use development. The company is known for managing prime retail and leisure destinations in the UK, France, and Ireland, focusing on integrating retail, leisure, and community spaces to adapt to changing consumer and occupier needs. This strategic move is expected to further consolidate Hammerson’s influence over Brent Cross, ensuring greater control over the centre’s future development and operations
People and Companies Mentioned:
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Hammerson plc: Real estate investment trust leading the Brent Cross redevelopment.
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Standard Life Investments: Joint venture partner in the Brent Cross project.
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Peter Cole: Chief Investment Officer at Hammerson.
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James Stevens: Head of UK Development at Standard Life Investments.
- Image: credit Hammerson's
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