Joint developers Development Securities and Orion Land & Leisure agree £44m funding deal for first phase of regeneration at Shepherd’s Bush Market
A £150m mixed-use redevelopment of Shepherds Bush Market is set to get underway after the developers agreed a funding deal for the first phase of the project.
Orion Shepherds Bush Limited, a joint venture between Development Securities and Orion Land & Leisure, said today that they had signed a £44.1m agreement to fund the first phase of regeneration at Shepherd’s Bush Market.
The six-acre site in Shepherd’s Bush has outline planning consent for a £150m mixed-use regeneration project that will include a revitalised market, up to 211 residential units and over 14,000 sq. ft. of retail and leisure space.
The funding from Pramerica, acting on behalf of its investors, will finance the cost of completing the purchase from Transport for London of the majority of the market holding, enabling the redevelopment of the first phase of the scheme to commence.
This will see the existing market refurbished to improve its infrastructure, physical environment and retail facilities.