Kicking off the Cherry Park Development at Westfield Stratford City
On March 18, 2019, Unibail-Rodamco-Westfield 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. Construction work is set to start in Q2 2019, with a phased completion and a delivery expected post 2023. The Cherry Park Development 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, we are leveraging our unique know-how and joining with strategic capital partners to reinvent city districts.
Learn more about mixed-used projects and our vision of urban development in the URW 2018 Report.