It makes sense as a large sales point, generally the shopping centers are near good public transport, they offer a wide variety of services and shops to residents and they will all be literally on your doorstep. A good recent example is Queensbury Square where Morrisons sold a large portion of their car park to make way for the new complex offering a 5 min walk to the nearest tube station.
A big announcement came from the 02 Centre in June 2019, where they have released their plans to convert their car park area into a 1,000 home complex. Since then the owner and property developer Landsec have looked to expand the concept into a 2,000 home complex along with a town square and park area.
What will remain of the current O2 Centre is still not clear with locals voicing concerns about the removal of the Sainsbury’s as well as the size and appearance of the proposed construction. The Blackburn Road project has already closed its community feedback and will now have to push the development through the local council.
If all is successful it will be a highly sort after location, with the biggest highlight being transportation access to over and underground lines at Finchley Road and West Hampstead. If you are an investor you will want to watch this space very closely.
Written by Toby Dawson
