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[Reposted from Aug 2012] Property Week: Westfield Brent Cross?

Link to Property Week web site
(registration invited)

"... Defiant Peter Cooper, portfolio director at Hammerson, said
"Brent Cross is a flagship asset for us in the UK, we wouldn’t sell, and there is no logic in bringing in a new partner. There is development potential, and we are in a good position in terms of funding to carry that out with our joint venture partner." [Particularly if Westfield beats Hammerson in Croydon?] [2013 update: It did (more or less).]
"... Hammerson is now determining how it is going to phase the 936,500 sq ft extension of the centre, and the adjoining, outline-consented 250 acre Cricklewood regeneration scheme, that includes 4m sq ft of offices and 7,500 homes. [In April 2012, the Evening Standard said there would be a "600,000 sq ft southern extension to the 850,000 sq ft North London mall".]

"It is expected to decide on its strategy in the autumn, which will involve a revamp of the existing centre, and apply for a revision to the existing consent early next year." [Well, Hammerson has produced an animated bus map, at least!]

"The extension of the centre has an estimated development cost of £290m. The earliest start would be in 2015, with possible completion in 2018. [The end of the 'Lost Decade'?]

"Cooper says:
"The extension will include a large amount of leisure, and it is amazing the amount of floor space they soak up. We are looking at a few exciting options that will help to make it even more of a destination." [That'll include the temporary ''Brent Cross Golf'.]

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