Hammerson and Barnet Council to launch search for Brent Cross partner
Hammerson, Standard Life and Barnet Council are preparing to launch a search for a new development partner for the Brent Cross Cricklewood development to build out the non-retail aspects of the scheme.
At a Barnet Council Cabinet Resources Committee meeting yesterday Hammerson and Standard Life agreed with the council to bring in a new development partner for the southern section of the site, enabling the pair to focus on the retail extension to Brent Cross. They also agreed to a phasing plan for the development.
GVA has been appointed by the council to find the new development partner, and also to explore potential funding strategies to bring forward infrastructure within the regeneration area, including the Thameslink Station. This review will be completed later this month and will be presented to the council later this year. The procurement process is expected to start in 2014.
The report of the meeting states: “The council and Hammerson/Cricklewood Regeneration Limited are investigating the best way to secure a development partner to deliver the southern parts of the Brent Cross Cricklewood Regeneration. The council will lead this process with the support of Hammerson / Cricklewood Regeneration Limited. This approach will enable Hammerson to focus on the delivery of the shopping centre at Brent Cross and the significant infrastructure required to support the comprehensive regeneration proposals.”
The Brent Cross Cricklewood development site extends to around 373 acres. It consists of under used areas of brownfield land occupied by industrial uses, former railway land and retailing premises surrounded by large areas of surface level car parking.
The document submitted to the council yesterday suggests that Hammerson and Standard Life’s re-phasing strategy will enable a start on site by 2017 in accordance with the existing permission, and a potential opening date for the extended shopping centre by 2020.
Outline planning permission for the comprehensive regeneration of the Brent Cross Cricklewood area was granted in October 2010.