Thornfield Properties' regeneration of Feltham town centre in southwest London, has moved a step closer with the£10.3 million purchase of existing shopping precinct The Centre, from GE Real Estate.
The Centre, a mid-1960s mixed-use retail and office scheme forms the heart of Feltham town centre, but Thornfield - in conjunction with the London Borough of Hounslow - plans to commit£90 million to an ambitious redevelopment project.
The Thornfield proposals include 250,000 sq ft (23,225 sq m) of retail space to be anchored by Matalan, an 80,000 sq ft (7,430 sq m) Asda Wal-Mart store and 12,000 sq ft (1,115 sq m) of A3 units served by 700 car spaces.
With more than 80 per cent of the retail space pre-let, Thornfield is working towards a start on site this spring.
Above the shops there will be more than 800 new homes in a mix of private and affordable 'key worker' tenures. Other elements of the mixed-use scheme include a 115-bedroom Travelodge hotel, a 22,000 sq ft (2,045 sq m) NHS medical centre, 15,000 sq ft (1,395 sq m) of offices, an 18,000 sq ft (1,670 sq m) public library and community centre and a 4,500 sq ft (420 sq m) day nursery.
Thornfield Chief Executive Jason Marcus said: 'This is a tremendous opportunity for us, and fits in with our overall development programme and strategy of delivering workable, viable regeneration solutions for the most complex of town centre developments.'
Nelson Bakewell acted on behalf of GE Real Estate and are joint letting agent with Gooch Cunliffe Whale.
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