Hammerson and Brookfield Europe have reached an agreement under which Hammerson will assume control of the Cricklewood project within the £4.5 bn (EUR 5.5 bn) Brent Cross Cricklewood regeneration proposals in the UK.
Hammerson and Brookfield Europe have reached an agreement under which Hammerson will assume control of the Cricklewood project within the £4.5 bn (EUR 5.5 bn) Brent Cross Cricklewood regeneration proposals in the UK.
The Brent Cross Cricklewood Development Partners comprise the owners of Brent Cross Shopping Centre, Hammerson and Standard Life Investments UK Shopping Centre Trust, and a separate joint venture between Hammerson and the development company Brookfield Europe which controlled the Cricklewood lands to the south of the A406 North Circular Road.
The change in the Cricklewood interest does not affect the joint venture between Hammerson and Standard Life Investments UK Shopping Centre Trust for Brent Cross Shopping Centre.
The Secretary of State for Communities and Local Government announced earlier this month that the scheme would not be called in, giving the green light to the scheme to create a new town centre in the area.
The partnership is currently working with Barnet Council to finalise the planning agreements.
