The long-awaited redevelopment of Enfield town centre in north London looks ready to finally happen.
All of the conditions set out in the development agreement with the London Borough of Enfield have now been met.
The scheme will be developed by Dutch financial service group ING following its acquisition of Kier Developments' interest.
The fund said it had secured pre-lettings for 60 per cent of the floorspace at the scheme, which has been renamed PalaceXchange. JD Sports, Next, Clarks, Superdrug, TK Maxx and Ottakar's have all joined.
The scheme links Enfield's three existing anchor stores: Pearsons Department Store, Marks & Spencer and Woolworths. It will also provide 150,695 sq ft (14,000 sq m) of retail space over 22 units and 65,000 sq ft (6,040 sq m) for leisure and cultural uses.
ING Real Estate joint managing director Siep Hoeksma said: 'Signing the development agreement has clearly demonstrated our commitment to PalaceXchange, and we are delighted that we have now gone unconditional. This will act as a call to action to major high street chains, which are already very excited at the prospect of the business opportunities that will be created at PalaceXchange.'
Letting agents for the scheme are CB Richard Ellis and Chase & Partners.
Reid Architecture is the architect.