Oxford’s shopping centre regeneration
By Neill Barston10 February 2015
A joint venture between Land Securities and The Crown Estate has been agreed for a £440 million (€593 million) redevelopment of the Westgate Shopping Centre, Oxford, UK.
Construction of the project, which will consist of over 100 new stores, 25 restaurants, and a range of public spaces within the city centre, is set to begin this spring.
The 74,300m2 development had undergone an extended period of consultation and planning that lasted for four years. It will replace the existing centre, which opened in 1972.
The new development is already 28% pre-let, with a cinema and several anchor stores having confirmed their retail plans within the scheme. It is scheduled for completion in 2017.
Robert Noel, chief executive of Land Securities, said the company was committed to creating a revitalised centre that would complement the city’s heritage status.