- Shopping Centres
In March 2019, the Group announced the signing of a conditional agreement with a subsidiary of the Canadian public pension fund PSP Investments and global real estate company QuadReal Property Group, to form the "Cherry Park Partnership. The Partnership will deliver a €750 Mn (£670 Mn) Private Rented Sector (PRS) residential scheme, adjacent to one of the Group’s London flagship destinations, Westfield Stratford City. It will be one of London's largest single-site PRS schemes.
Cherry Park will feature approximately 1,200 new homes, benefitting from a suite of amenities including a residents' gym, swimming pool, workspace and high-quality public areas. This new residential quarter in the heart of Stratford City is an example of Unibail-Rodamco-Westfield’s strategy to significantly increase the densification of exceptional and highly connected retail destinations by adding offices, residential, hotels and other uses, where relevant. With the Cherry Park Partnership, the Group is leveraging its unique know-how and joining with strategic capital partners to reinvent city districts.
Westfield Stratford City has been a catalyst to the regeneration of East London. As one of the first pieces of the London 2012 Olympic legacies, by 2027, it’s estimated that £25bn will be invested in the area. Other forthcoming developments include a new culture and education quarter in the Olympic Park, featuring London College of Fashion, the V&A Museum including a partnership with the Smithsonian Institution and Sadler’s Wells.
51.6 Mn visits
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