3rd Mar 2014 10:33
LONDON (Alliance News) - Development Securities PLC Monday said it has secured GBP44.1 million in funding from Pramerica Real Estate Investors for its regeneration scheme at the Shepherd's Bush market in west London.
The six-acre site has outline planning consent for a GBP150 million mixed-use regeneration project that will include a revitalised market, up to 211 residential units, and over 14,000 square feet of retail and leisure space.
The funding will finance the cost of completing the purchase from Transport for London for the majority of the market holding, enabling redevelopment of the first phase of the scheme to start.
The site will be developed by Development Securities' joint venture, Orion Shepherds Bush Limited, a partnership with Orion Land & Leisure.
Development Securities shares were trading at 256.10 pence Monday morning, up 0.10 pence.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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