Berkeley Homes has agreed to buy the Observatory and Queensmere shopping centres in Slough and plans to bring forward the existing plans for regeneration.
The deal, due to complete later this Summer, paves the way for an ambitious regeneration scheme – Slough Central – on the Queensmere Shopping Centre, based on the plans British Land has previously pursued on behalf of the site’s owner Abu Dhabi Investment Authority (ADIA).
The 9.2-acre site represents one of the most prominent redevelopment opportunities in the South East, with outline planning already secured to create 1,600 new homes, alongside new retail, leisure and entertainment offerings.
In line with the original scheme, there are no immediate plans to redevelop the adjacent five-acre Observatory Shopping Centre.
Berkeley Homes, developer of the Horlicks Quarter, says it will take forward the existing proposals to deliver a high-quality, residential-led mixed-use development. Plans include new public realm, extensive landscaping across the site and a mix of new homes, community spaces, leisure facilities, and food and drink destinations – designed to reflect the needs of modern town centre living.
The scheme will also introduce new pedestrian routes, improving connectivity between the station, Wellington Street and the southern end of the High Street.
Elkie Russell, managing director of Berkeley Homes, Oxford & Chiltern, said: “We are thrilled to continue playing an integral role in the regeneration of Slough.
“Our ambitious transformation of the iconic Horlicks Factory into a superb collection of new homes and residents’ facilities, has already created a vibrant new neighbourhood in the town centre.
“By acquiring this additional site, bringing forward new homes and breathing life into the high street, we will continue to support the long-term growth and success of Slough.
“Our vision is to enhance and support a thriving, sustainable town centre that reflects the energy and diversity of the local community.”
The acquisition signals a major step forward in Slough Borough Council’s ambitions to drive investment and regeneration across the town, building on recent infrastructure improvements and its strong transport connections, including Crossrail and proximity to Heathrow Airport.
At the same time moves are being made to bring forward another stalled mixed-use scheme, the North West Quadrant at the former TVU site.
Pat Hayes, Slough Borough Council’s executive director, regeneration, housing and environment, said: “It is brilliant news for Slough that top UK residential developer Berkeley have bought the Queensmere and Observatory shopping centres from the Abu Dhabi Investment Authority.
“Berkeley are already delivering the award-winning Horlicks factory scheme and they are a company with the financial clout, expertise and ambition to deliver a comprehensive transformation of the High Street .
“The council has worked hard to help facilitate this sale to enable the regeneration of the High Street to be brought forward and we look forward to continuing our successful relationship with Berkeley .
“With this announcement and the start of work on the former TVU site, Slough town centre is on the cusp of transformation.”
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