Lewisham shopping centre demolition and rebuild is on the cards
The owners of Lewisham shopping centre are looking into knocking down the site and rebuilding a new mixed use development.
Land Securities, owners of the centre, have just released financial results with Chief Executive Robert Noel stating: ”We see excellent potential for a new town centre at Lewisham, with our ownership of Lewisham Shopping Centre, SE13 forming the core of a potential 8.3 acre mixed use destination”.
Results show retail struggling in terms of occupancy across Landsecs profile:
- London offices up 0.2%; central London shops down 2.9%
- Shopping centres and shops down 2.9% with outlets flat; retail parks down 4.5%; leisure and hotels down 0.2%
The continuing struggles of the High Street and shopping centres are well known. Retail parks are performing particularly poorly.
Mixed use is therefore favourable to Landsec, and targets for new homes in Lewisham were recently increased by 50%. Town centre sites are prime candidates for meeting that goal.
The former citibank tower at Lewisham already sets a precedent for going tall at the site. Lewisham Gateway does likewise.
I recently covered revised plans for Lewisham Gateway – the site between the station and town centre – which now includes a nine screen cinema.
Landsec are currently working on two other large mixed use developments so this scheme is unlikely to be imminent, and the issue of Citbank tower’s conversion to residential is also in the mix. Yet it does offer an insight into the future of Lewisham, and as expected, a mixed-use rebuild is on the cards.
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