ACROSS | The European Retail Real Estate Magazine

Development

Westfield London becomes the largest mall in Europe

Katharina von Schacky, Global Head of Shopping at Commerz Real and Member of the ACROSS Advisory Board: “The extensive further development of the center takes into account the high level of demand from current and future retailers.” Image: Commerz Real

Commerz Real and Westfield Corporation are investing around £600 million into the expansion. When completed, the shopping center will comprise approximately 241,500 sq m.

On March 20, 2018, Westfield London launched the first-phase opening of its £600 million expansion, six months ahead of schedule. It welcomed major new store openings, including John Lewis, Adidas, H&M, West Elm, Currys PC World, Boots, Space NK, Mango, and The White Company.

This signals the start of a phased opening of the 68,700 sq m expansion, which will see more than 90 new shops, cafes, restaurants, and leisure outlets open throughout 2018, increasing Westfield London to 241,500 sq m, making it the largest shopping center in Europe.

Westfield London

Westfield London is a 50/50 joint venture between Westfield and German Commerz Real, a subsidiary of Commerzbank AG. Image: Jason Hawkes

Peter Miller, COO of Westfield Europe, said: “The further investment, ahead of the center’s 10th anniversary year, is testimony to the strength of Westfield London, which experiences high retail demand for space from luxury and high street brands looking to house their flagship stores, along with first to market dining and leisure concepts.”

The mall has introduced a number of UK center firsts, including the first luxury precinct, new hotel concierge services, an expanded dining offer, as well as hosting major international events and film premieres.

 

Outstanding performance since its opening in 2008

Katharina von Schacky, Global Head of Shopping at Commerz Real and Member of the ACROSS Advisory Board, added: “Since its opening in 2008, Westfield London has enjoyed outstanding performance, and now we are writing a further chapter in this success story together with Westfield. The extensive further development of the center takes into account the high level of demand from current and future retailers. Great Britain, particularly London, remains an important European market for us.”

Westfield London

Westfield London Image: Jason Hawkes

In celebration of its 10 years, the mall is also at the forefront of London’s latest landmark development project – the regeneration of White City. Westfield London has been a catalyst for the £8 billion redevelopment of the wider White City Opportunity Area in the London Borough of Hammersmith and Fulham.

As part of the expansion, Westfield London will deliver 1,500 new homes, including affordable homes, of which 89 will be completed by summer 2018. The company will also deliver 4,200 sq m of office space, which will include Westfield’s new European headquarters.

 


Key stats

  • 70,000 sq m of additional retail, dining, entertainment, and leisure space, bringing the total to 241,500 sq m, plus additional office floor space, which will include Westfield Europe’s new headquarters
  • Largest retail development under construction opening in 2018
  • Over 90 shops, including a 21,400 sq m John Lewis department store, plus additional flagship stores and restaurants, bringing the total to 450 stores
  • A major focus on dining and experience around a dedicated open events space and the Dimco Building
  • 1,000 additional parking spaces – a total of 5,500 parking spaces
  • 1,522 new homes, including affordable homes, to be delivered in stages in the upcoming years
  • Located in one of the most well-connected areas in London, with four underground stations servicing three tube lines, one overground station, and two bus stations

 

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