Commercial Property News

Our magazines are published bi-monthly with in-depth features and news for the commercial property industry. On this page we have the latest news to keep you constantly updated on the market. On the left hand side of the page you can search our archived news which is stored monthly.



Wednesday, August 23, 2023

Land Securities purchases Westwood Cross proposed leisure scheme

Land Securities has announced that following the purchase of an 8.5 acre site from Rosefarm Estates for 7.2m it has received planning consent from Thanet District Council for a new 96,000 ft2 leisure scheme on the site.

The site, which is adjacent to Land Securities' Westwood Cross shopping centre, has received detailed planning consent for a leisure and entertainment scheme, which includes provision for a hotel, multi-screen cinema complex, casino, bingo hall, restaurants and 530 car spaces.

The 20 million investment will further support Thanet District Council's long term vision for the regeneration of the area, which began with the creation of the new accessible retail heart for the neighbouring areas of Margate, Ramsgate and Broadstairs.

Mark Ashton, Head of Retail Portfolio Management, commented on the scheme: "A leisure element is the perfect addition to Westwood Cross' exciting retail offer and will provide a further draw for the area, creating a thriving and integrated town centre. The development builds upon Land Securities' significant investment in the region which also includes Maidstone and Canterbury."

Land Securities purchased Westwood Cross in July 2005 soon after its opening. The park is anchored by Debenhams, Marks & Spencer, TK Maxx and Next. Top high street retailers include Topshop, New Look and Waterstone's and recent additions include H&M;, River Island, HSBC and Blacks.

The leisure and entertainment scheme will start on site in September and be completed in Spring 2007.