09:43AM, Tuesday 05 March 2019
The Nicholsons Shopping Centre could make way for a rejuvenated town centre under its new owner's plans.
The complex has been bought by asset management and investment group Tikehau Capital, it has been announced today, and has been described by the French global investment company as having ‘strong potential for redevelopment’ in line with the council’s regeneration strategy.
A public consultation into how the shopping centre could be changed into a new town centre will be held with a view to a planning application being submitted within a year.
Tikehau Capital’s head of real estate Frédéric Jariel said: “This deal confirms our strategy to focus on repositioning well located assets to unlock their full potential.
“This investment is a key milestone in the deployment of our value-added fund throughout Europe and is in line with Tikehau Capital’s strategy to strengthen the development of its activities in the United Kingdom.”
Council leader Cllr Simon Dudley (Con, Riverside) said: “I am delighted that Tikehau Capital has acquired the shopping centre and want to hear from those who use it about its future use.
“We held an information event last weekend about the changing face of Maidenhead and there were many questions about the future of the shopping centre.
“I would encourage people to attend these sessions and give their views as another part of the town is redeveloped. It is an exciting time for Maidenhead.”
Areli Real Estate, an urban regeneration specialist, collaborated with Tikehau on the purchase.
Partner at the UK-based firm Rob Tincknell said: “Areli is thrilled to be supporting Tikehau Capital purchasing and repositioning this important project.
“The Royal Borough of Windsor and Maidenhead have clearly demonstrated an impressive placemaking strategy to improve Maidenhead town centre and boost both vibrancy and vitality.
“Through the potential regenerating of the centre, we are really excited to help deliver those goals.”
Mr Tincknell, who has significant experience with public consultations and regeneration projects, told the Advertiser that the long-term goal is to 'get rid of the shopping centre and put back the town centre', which would incorporate retail, leisure, residential and office use.
That would follow a consultation for residents' views - which Mr Ticknell stressed were integral to understanding how a scheme would progress - with a view to potentially submitting a planning application within the next year.
"We want to understand first of all - it is literally a few days after we have completed the purchase - understand from the people of Maidenhead what they want," he said.
"People in Maidenhead know this town centre, know this town, better than we do."
A 'planning weekend' will be held on Friday, March 22 from 1.45-5.30pm and on Saturday, March 23 from 11am-4pm to let residents have their say on the site's future. Workshops will take place in the former Argos unit and the drop-in exhibition will be held opposite, in the former Secrets unit.
Background about the site and information will be available.
Responses will be summarised by JTP Architects and presented as a conceptual masterplan at St Mary's in the High Street on Tuesday, March 26 from 6.45 - 8.30pm.
“We are delighted to have the opportunity to work with the local community to co-create a vision for this important part of the town centre," JTP partner Charles Campion said.
"I hope as many people as possible will take part at the community planning weekend, everyone is welcome.”
Tikehau manages €22bn (£18.9bn) in assets and invests in areas including private debt, real estate and private equity.
It employs 430 staff across its eight international offices, including Paris, London and New York.
For more information visit jtp.co.uk/projects/maidenhead or contact the community planning team at firstname.lastname@example.org or on 020 7017 1780.
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