Windsor Yards shopping centre is set for redevelopment after its sale to AEW UK Investment Management.
The site, close to the central station, and formerly known as King Edward Court, has been acquired by AEW under its Urban Real Estate Strategy (UREF). The price has not been disclosed but is rumoured to be around £20 million.
It covers 260,700 sq ft and includes a hotel, supermarket, shops, car park and residential. AEW UK is seeking a collaboration to rejuvenate the scheme.
In a statement, Nick Winsley and Charles Royle, joint portfolio managers of the UREF, said: “Town centre high streets such as this in Windsor have undergone significant changes over the past 15 years driven by the continued closure of retail units and the pandemic has only added to this fundamental shift.
“Windsor is a town of international renown, drawing visitors from across the UK and abroad to visit the royal residence, its historic centre and the surrounding area.
“Windsor Yards is an excellent opportunity to acquire real estate in a prime location with the potential to transform the site into a modern development that can better meet the needs of Windsor, its visitors and its community.”
Leader of the Royal Borough Cllr Andrew Johnson said: “We welcome AEW’s announcement and their investment in Windsor. Changes in retail and consumer habits, particularly as we emerge from the Covid-19 pandemic, are reflected in spaces like Windsor Yards and we look forward to working with AEW.”
AEW is working with Bridgecore as development manager and was advised by TT&G and PSK Knighton in the acquisition.
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