Details of the £400 million redevelopment of Maidenhead’s Nicholson’s shopping centre have been made public.
Tikehau Capital and Areli Real Estate have submitted plans for the Nicholson Quarter to replace the 1970s centre. The new plans include more than 60 new shop/restaurant units, 327,000 sq ft of offices, more than 650 homes and 1.5 acres of new public realm.
The developer describes the scheme as one of the first ‘shopping centre to town centre’ regeneration initiatives in the UK, designed to address the changing landscape of high streets.
The residential units will include 305 senior living homes and 357 which will be for sale.
The development will reinstate the original streets and spaces lost by the development of the old shopping centre. Central to the plan will be the creation of Sir Nicholas Winton Square, named by local residents in honour of Sir Nicholas’ bravery during the Second World War when he saved hundreds of children from the Nazis.
The plans have come a year after the developer bought the site and follow extensive consultation led by masterplanners from JTP.
Areli Real Estate partner, Rob Tincknell, said: “After extensive engagement with the local community, we are very proud to have submitted these proposals for the comprehensive regeneration of central Maidenhead.
“These exciting plans will bring widespread benefits to the town whether it is as a place to live, work, shop or simply enjoy. We certainly appreciated that this is a once in a lifetime opportunity and we need to create a place for many generations to come.”
Peter Cirenza, head of Tikehau Capital in the UK, said: “We are grateful to be part of this first ‘shopping centre to town centre’ urban regeneration plan in the UK that will create a vibrant living environment where there’s something happening at all times of the day, every day of the week through the creation of a mixed-use quarter.
“This project is a great testimony to Tikehau Capital’s willingness to strengthen its real estate activities in the United Kingdom and to focus on repositioning well located assets to unlock their full potential over the long-term.”
See our full interview with Rob Tincknell: ‘It’s time to put Maidenhead back at the top’
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