Ballymore and Transport for London (TfL)’s commercial property company, TTL Properties Ltd (TTLP) have formally committed to combine their landholdings in Edgware. Working with the London Borough of Barnet, they will deliver their shared vision of a reimagined town centre with a thriving high street on Station Road open to all.
The 7.5-acre Broadwalk Shopping Centre, acquired by Ballymore in 2020, is key to unlocking the regeneration of the town centre. By working with TfL, which owns much of the neighbouring land including the bus station and bus garages, the project will be able to reach its full potential. The development will deliver an improved bus station as well as garages and will make it even easier to travel around Edgware while accessing the main shopping and residential areas. Ballymore will hold a majority stake in the strategic partnership.
The town centre is popular, diverse and valued, providing extensive shopping, cafes, restaurants and services for communities in both Barnet and the adjacent London Borough of Harrow. Edgware’s local economy is largely reliant on the commercial success of its high street retailers and offices which, like many town centres and high streets nationally, have come under pressure leading to an increase in the closure of anchor shops and, in some areas, resulting in dilapidated building frontages and anti-social behaviour.
John Mulryan, Group Managing Director at Ballymore, said: “We have long been committed to partnerships, working successfully with organisations to create new homes and mixed-use communities across London.
“Edgware, with its amenities and public transport connections, is a town with huge potential, but the changing face of the high street requires a new approach. We are looking forward to collaborating with TfL and Barnet Council to deliver our shared vision of creating an outstanding place for modern urban living, with thriving commerce, new and integrated public spaces, improved connectivity and public transport, new leisure and cultural offerings and a variety of new homes.”
Peter Elliott, Head of Property Development at Transport for London, said: “We are delighted to be partnering with Ballymore and working with the local community to revitalise Edgware town centre. Together we will be delivering high-quality new homes and improved retail space alongside other benefits for the local community, including better transport facilities, public realm and community and leisure amenities.”
Since acquiring the site in 2020, Ballymore has undertaken extensive public consultation to gain a thorough understanding of local opinion on the existing town centre and its future, working with TfL. Furthermore, alongside the London Borough of Barnet, both Ballymore and TfL are founding members of a Town Centre Steering Group which seeks to improve the appearance, vitality and with a long-term ambition of establishing a business improvement district (BID), whereby the numerous local businesses can invest together to improve the local trading environment.
Stephen McDonald, Director for Growth at Barnet Council, added: “We are pleased to see this project take another step forward – a crucial part of the council’s overall plans to reinforce and enhance Edgware’s status as a major town centre to better serve the needs of those living and working here.”