Wembley Central up for sale following £90m makeover
- Credit: www.mattlivey.com
Wembley Central is up for sale after its £90million makeover.
The redeveloped Wembley town centre’s commercial element has been put on sale by developers St. Modwen, which is seeking offers in excess of £37.5 million from potential buyers.
The urban quarter, officially launched in March, is part of the wider regeneration of Wembley and the result of nine years of redevelopment which has transformed the area.
Where once Wembley Central resembled a tired 1960s shopping centre, it is now a vibrant multi purpose destination anchored by TK Maxx, Tesco, Argos, and an 86-bedroom Travelodge hotel.
The news follows the sale of Quintain’s Wembley Park’s by US equity firm Lone Star in August.
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Wembley Central has 118,000 sq ft of retail space next to the refurbished and upgraded tube station and 24 hour parking. In addition, 273 new residential homes have been built.
Killian Morris, senior development manager for St Modwen, said: “The Wembley Central redevelopment has been a comprehensive mixed-use project delivering a modern, bustling and vibrant new centre.
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“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).