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One of the green spaces in Walthamstow’s town centre shall be off-limits partly during the summer. This is because construction work on two tall tower blocks is going to start. Last January, Capital & Regional got permission to expand a piece of its shopping centre into Walthamstow Town Square Gardens. It will be known as 17&Central.
The company’s plan
The intent of the company is to redevelop the shopping centre, known locally as The Mall. They want to create 538 flats as well as a fresh entrance for Walthamstow Central Tube station. While the construction is happening, the playground and green space at the town square shall close to the public.
The borough’s council sold Capital & Regional a 250-year lease for a third of the square to allow expansion of the shopping centre. It is the same for the new station entrance and 538 flats. Due to budgetary constraints though, plans for the entrance are on hold. Work will now start in 2025. Please give our team a call if you need the leading services for property investment Waltham Forest has.
Council estimates
According to council estimates, a new entrance will cost around £25million. It will add step-free access and enhance capacity. During an unsuccessful bid for £19.9million towards the entrance from the Levelling Up fund from the government in 2021, the council stated it had raised £5.3million. This is in contributions from the development. Cllr Khan said that construction on their project is due to start in the summer.
In addition, during the first phase of the work an appropriate spot for the station box will be chosen. It will remain free to enable construction from 2025.
A representative from Transport for London (TfL) said that they understood the significance of the upgrades here. They will continue to work alongside Capital & Regional and Waltham Forest Council to help the scheme move forward. They are working with local developers and the council to safeguard and try to deliver the station entrance in the future.
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So, if you need assistance from the foremost company specialising in property investment Waltham Forest has, please come to us. We support new investors as well as clients with large and small portfolios.