Developers secure £44m to start Shepherd’s Bush Market revamp
DEVELOPERS regenerating Shepherd’s Bush market in west London have secured £44.1m from Pramerica Real Estate Investors to help kick-start the first phase of the development.
Orion Shepherds Bush, a joint venture set up by Development Securities and Orion Land & Leisure, said the funds will be used to buy the market site land from Transport for London.
Orion has outlined planning consent for the £150m scheme that will see the 100-year-old market revamped with traders given more stalls and new seating areas for the public. The project will also create 211 homes, underground parking and see the nearby railway arches refurbished.
“Securing the funding and taking control of the market represents a significant milestone in this complex project and underlines our commitment to delivering a scheme of outstanding quality for west London,” Richard Olsen, chairman of Orion Land & Leisure said.
Work on the scheme is expected to start this summer.