C&R secures planning approval for Walthamstow development

C&R

August 29, 2018 – Capital & Regional (C&R), a real estate investment trust (REIT) focusing on the UK, has secured formal planning consent for the extension and development at The Mall Walthamstow within an enhanced two-acre Town Square, in London.

The plans include an 86,000ft² extension to the shopping centre to accommodate 12 new retailers and five food and beverage operators; 500 new residential homes, including affordable housing;·new town square, children’s play area, landscaped park gardens and family amenities.

The plans also include TfL making a significant infrastructure investment and upgrade to Walthamstow Central Station, including a new second entrance within the extended Mall.

The extension to The Mall will provide additional space for the implementation of the remerchandising strategy to diversify the uses and tenant mix of its malls.

At Walthamstow, this will include an additional grocery anchor other convenience provision as well as ‘grab and go’ and casual dining.

The new homes, to be delivered with a development partner, will be located above The Mall.

 

Work is expected to commence in 2020. The company has previously delivered several improvements, including a full refurbishment of the shopping centre, and the addition of new brands such as Lidl, Walthamstow’s first Pret and The Gym.

C&R CEO Lawrence Hutchings said: “Our vision for Walthamstow has been developed hand-in-hand with the council and residents and we have tailored the mix of homes, leisure uses, services and amenities to meet the needs of the local community.

“This will be transformational for Walthamstow and underlines our position at the heart of the community, both in terms of how we are supporting the improvement of the wider public realm and amenities, including Transport for London’s plans for the underground station, but also in terms of how we are able to provide relevant goods and services for the people we serve.”

The company acquired The Mall in 1997 and undertook a full refurbishment of the shopping centre in 2015.

Source:-http://www.worldconstructionnetwork.com/news/cr-secures-planning-approval-for-walthamstow-development/

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