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New 214 home development in Ilford approved as borough primes for Crossrail

Property developer Meyer Bergman has been granted permission for a new 214 home residential development above a major shopping centre in Ilford.

The scheme, which contains 30% of affordable housing, is to sit above the Exchange Ilford shopping mall and will also involve a package of commercial space and various other site improvements.

This includes 3,229 sq ft of flexible commercial floor space which Meyer are touting as potential retail, food and beverage or office space, along with a number of improvements to pedestrian walkways and car parking facilities.

It continues the European investment group’s ‘multi-million pound investment’ in the shopping centre after it purchased the site for £71m in 2010.

Following the announcement, Mark Gamble, Executive Director Asset Management at the firm said: “We have over the last 18 months worked with the council to deliver a scheme for the Exchange that we at Meyer Bergman are proud of.

“Since purchasing the Exchange in 2010, we have undertaken a multi-million pound investment programme with the principle aim of ensuring the centre meets the present and future needs of Ilford’s growing population.

“This has included repositioning the centre by introducing new retailers such as Next, H&M, improving circulation and refurbishing the interior.”

Efforts to modernise and refurbish the 300,000 sq ft site located in the Borough of Redbridge come ahead of the opening of Ilford’s Crossrail station in 2017, which is anticipated to bring economic and development opportunities.

Such is the potential of the area, that Ilford recently topped a list by property experts JLL of areas most primed for long-term investment as a result of the added footfall and connections provided by the new Elizabeth Line.

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