Property asset firm purchases Marlowes Shopping Centre and cites town centre refurbishment as key factor.

Town Centre - outside Marlowes Shopping CentreThe recently completed regeneration of the Hemel Hempstead Marlowes pedestrianized shopping area and Bank Court have been credited as being the driving force behind the multi-million pound sale of the Marlowes Shopping Centre which runs the length of this area.

On 22nd January 2016, Berkhamsted Today reported that “a property asset firm has bought the Marlowes Shopping Centre for £35.5million after citing the town centre refurbishment as a key factor in the sale.

Capital & Regional, a specialist property real estate investment trust (REIT), has exchanged contracts with Standard Life Investment for the mall in Hemel Hempstead and the deal is expected to be completed early next month.

The group pointed out that the town has recently benefitted from ‘significant investment from the local authority’.” (See the following link to read the full article on the Berkhamsted Today website; http://www.berkhamstedtoday.co.uk/news/marlowes-shopping-centre-is-sold-for-35-5million-1-7174728#ixzz42arkI8Rn“.)

Greenford completed these works, which have dramatically altered the landscape of the Hemel Hempstead town centre, in Autumn 2015 on behalf of the Dacorum Borough Council’s Hemel Evolution team. Greenford’s work in the Marlowes pedestrianized shopping area – outside of the Marlowes Shopping Centre – and Bank Court were one of seven total area developments all through the town centre that are making the area more attractive to shoppers and retailers alike. The purpose of the works was to refresh the look of the town centre while making it more attractive to potential businesses as well as visitors and events. The rejuvenated area already hosts regular markets and is being utilised by Dacorum Borough Council as well as local community groups to host big and small events focussed on families, locals and visitors.

To find our more about Dacorum Borough Council’s Hemel Evolution works check out their website by clicking here.