Ballymore has exchanged contracts to acquire the Broadwalk Shopping Centre in Edgware, north London, and is gearing up to work with the council on plans to regenerate the 13-acre site. The developer acquired the freehold interest in the 190,000 sq ft centre from Aberdeen Standard Investments, with property consultant Knight Frank acting on the latter’s behalf.
The site occupies a significant town centre location, directly next to Edgware Underground Station. Ballymore has already had a dialogue with the London Borough of Barnet to understand its ambitions for the site and the wider area and will now work with the council and the local community to bring forward a proposal that can enhance the town centre and community into the future.
Sean Mulryan, Chairman and Group Chief Executive at Ballymore, said: “Ballymore has a great deal of experience in town-centre communities and over the many years we have been in business we have learnt a lot of lessons. How these places look to evolve in the coming years will be key to their success, as the essential nature of high-street retail changes so rapidly. Connected by the Northern Line to central London, this is a fantastic area with incredible potential for a mixed-use development with new homes, shops and businesses. We’re looking forward to collaborating closely with the local community and the council to evolve this town centre into a place that is fit for the future and ready to deliver what our communities want and need on their doorstep.”