Brent Cross shopping centre celebrated its 40th anniversary in September. The site was a pioneer in the UK, becoming the very first regional mall of its type. When it opened it was seen as a modern, covered centre, home to a wide array of shops. Visitors could shop to their heart’s content protected from the elements.
The most unique thing about the shopping centre was its location. When it opened in 1976 most people did their shopping on high streets in town or city centres. Brent Cross was freestanding, based outside of these areas, and people had to make their way to and from it. This replicated a model used in the US. The success of the site inspired all manner of similar developments and set a new trend.
Today Brent Cross remains in the top 10 regional shopping centres in the UK according to data from Knight Frank. This is a little bit surprising, particularly considering there are many sites that are much larger in terms of floorspace.
Freestanding shopping centres have also had an interesting impact on property prices. They are typically based in areas outside of city and town centres where land prices are more affordable. Surprisingly though locations in close proximity to the sites and with good transport links can see a premium in terms of house prices.
Homes in the eastern part of the London Borough of Brent can enjoy high demand thanks to their close proximity to the shopping centre. Properties for sale and available to rent are attractive to property seekers.
At Finefair we provide a range of service in Brent and work hard to help people find properties in the right location. One thing we provide is council leasing. Local authorities across London are looking for homes they can take control of and let out. Private landlords can benefit from the schemes they offer, especially if they have properties in areas where demand is high.