Hammerson and Standard Life Investments submit detailed plans for Brent Cross Shopping Centre redevelopment
Hammerson and Standard Life Investments today announce that they have submitted a detailed planning application, in accordance with existing outline planning consent, for the £1.4bn redevelopment of the iconic Brent Cross Shopping Centre in London.
The plans, submitted to Barnet Council, envisage the refurbishment and extension of the shopping centre introducing more than 200 new retail stores, 60 restaurants, a state of the art cinema complex, hotel accommodation, a new town square, a relocated and enlarged bus station as well as improved public spaces. Brent Cross London is the northern element of the wider £4.5bn regeneration plan for Brent Cross and Cricklewood, for which Hammerson and Standard Life Investments secured outline planning consent in 2010.
Designed by award-winning architects: Callison RTKL and Chapman Taylor, the proposed development will see Brent Cross Shopping Centre double in size to around 2 million sq ft with 7,600 car parking spaces to become a world-class retail-led, mixed-use destination that will meet the demands of multi-channel retailing.
John Lewis and Fenwick will be retained and a new Marks & Spencer anchor store will be delivered. All three were part of the original Brent Cross, which revolutionised retail when it opened 41 years ago in 1976.
Brent Cross London will also benefit from much improved public realm and pedestrian, car and public transport links. A new living bridge, a green landscaped boulevard – which received planning consent in 2015 - will span the North Circular creating a walkway for people from Brent Cross London to the regeneration being delivered by a joint venture between Argent Related and Barnet Council to the south of Brent Cross London for the very first time.
The plans reflect the results of extensive community and stakeholder consultation in the Brent Cross area in November 2016. On average, 88% of those who commented on different aspects of the development plans were supportive of the proposals put forward by the development partners. *
Subject to planning consent, preliminary work on the development could start as early as summer 2018.
James Stevens, Head of UK Development, Standard Life Investments, commented: “Our plans for Brent Cross London are progressive and ambitious. We are in discussions with a breadth of retail and leisure brands who are equally excited at becoming part of north London’s premier shopping centre”.
Peter Cole, Chief Investment Officer for Hammerson said: “This marks another significant milestone in the transformation of Brent Cross. We will create a world-class retail destination that will be the catalyst for a new and vibrant quarter. Brent Cross has been an iconic part of retail for more than 40 years and our plans seek to ensure that it continues to define the next generation of retail in London”.
The application is open for public consultation for a period of 21 days. The application and the supporting documentation can be viewed at the Council’s offices (Barnet House, 1255 High Road, Whetstone N20 0EJ) and online at www.brentcrosslondon.co.uk
Brent Cross London
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Lindsay Dunford, Head of Corporate Communications
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Standard Life Investments
Justin St Clair-Charles, firstlight PR
Tel: 020 3617 7233
Notes to Editors
Hammerson is a FTSE 100 owner, manager and developer of retail destinations in Europe. Our portfolio of high-quality retail property has a value of around £10 billion and includes 23 prime shopping centres, 18 convenient retail parks and investments in 19 premium outlet villages, through our partnership with Value Retail and the VIA Outlets joint venture. Key investments include Bullring, Birmingham, Bicester Village, Oxfordshire, Dundrum Town Centre, Dublin and Les Terrasses du Port, Marseille.
Standard Life Investments
With assets under management of £277.9 billion (31/12/16), Standard Life Investments is one of Europe’s leading investment houses.
Standard Life Investments is one of Europe’s largest real estate investors, managing £22.2 billion of assets in direct real estate, public listed real estate and real estate debt (31/12/16). Our dedicated team of over 160 real estate investment professionals, based in six global locations (Edinburgh, London, Paris, Boston, Hong Kong and Singapore), manage over 610 direct real estate assets in 14 countries worldwide (at 31/03/17).
*A total of 383 people responded to the consultation: Views were expressed on: the refurbishment of the existing centre, new retail shops, new restaurants and bars, a new cinema complex, a new Town Square, hotel accommodation, a new and enlarged Bus Station, improvements to Sturgess Park, improvements to Brent Riverside Park (western and eastern), pedestrian and cycle routes, new housing, and a Sustainability Strategy,