The dramatic internal refurbishment of The Mall Walthamstow has breathed new life into this growing London town ahead of an exciting mixed use extension to the scheme currently being planned.
The design-led £3m refurbishment of The Mall Walthamstow marks a transformational first step in longer-term plans to reposition the shopping centre and align it more closely with the evolving shopper demographic. This North East London town has been recognised as an up-and-coming area with a thriving creative demographic and Capital & Regional's recent and future activity taps into this, recognising strengthening demand.
The refurbishment was shortlisted for a BSCS Gold award and included upgrades to shop fronts, floors and lighting, as well as a bespoke ceiling ‘ribbon’ sculpture running through the shopping centre.
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- Immediate trading results with footfall up 1% compared to the national index of -2%. Car park usage up 2.6% and retail trade up 1.3%, ahead of the BRC index.
- A strong return on investment with the centre delivering a 16% uplift in valuation (net of capex) and a 4% increase in valued income since completion of the refurbishment
Valuation since completion
Energy reduction saving
£20K per annum
Walthamstow is changing. Housing prices are set to rise 51% by 2020, as more affluent young professionals move into this highly accessible London borough. In partnership with the Local Authority, we are investing significantly in the town, creating an innovative and unique retail and leisure offer and a profitable trading opportunity for a whole new raft of occupiers.Mark Bourgeois, Executive Director for Capital & Regional
An up and coming London borough
The refurbishment of The Mall coincided with Waltham Forest Council's redevelopment of Walthamstow's town centre. The Scene, which has transformed Cleveland Place into a vibrant new residential and entertainment hub, includes a 9-screen Empire cinema and five restaurants, alongside retail and residential space. Both sets of developments reflect the increasing desirability of Walthamstow and cement its status as an up-and-coming London borough.
Lighting design was a key element in the refurbishment project as the scheme had poor quality natural and artificial lighting throughout.
The dramatic ceiling ribbon was designed to temper sunlight coming into the building, and provide a dynamic backdrop onto which rays could be projected at night.
Walthamstow-based neon lighting designer and founder of God's Own Junkyard, Chris Bracey, was commissioned to construct unique signage pieces for The Mall adding unique local twist to the scheme.
The Mall is a shared space at the heart of the community, something that was celebrated and put at the forefront of the environment graphics implemented throughout the centre. The concept celebrates the vibrant culture and individuals from the Walthamstow area who have made a significant contribution to the creative arts. Famous names such photographer David Bailey, Concorde designer George Edwards and Director Alfred Hitchcock adorn high-level panels throughout the centre.
New Retail Spaces
The refurbishment works also created space for new retailers. Discount Designer brand TK Maxx has been provided with a new 26,000sq ft store which is due to open in early 2016. Two existing units were combined for TK Maxx, along with expanding through the car park, to provide them with their newest two-level anchor store.
Sports Direct have opened its newest 9,000 sq ft unit which sees the amalgamation and extension of two vacant units. They have created a two story store with core brands and sports lines to cater for all sporting needs.
In addition a pop-up retail space has been created, providing an outlet for local retailers and designers which has received an overwhelmingly positive reception in the centre.
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- The work has included the installation of new shop fronts, modern flooring and a new staircase in Central Square.
- The completed works are happening ahead of a longer-term enlargement plan for the shopping centre.
- The revitalisation of the centre began in July 2014 and was completed in April 2015.
- Shoppers weren't disrupted during the major works, which took place out of hours.
- A transformational refurbishment of a 25 year old scheme in a vibrant and evolving London catchment.
- £3,000,000 total project cost, with effective procurement delivering a high value result.
- The refurbishment enabled the delivery of two significant asset management opportunities – the creation of a 24,000 sqft TK Maxx, and a 10,000 sqft upsized Sports Direct.
- Significant environmental gains with energy reduction saving of £20k per annum representing 30% less energy use.
- In a recent survey of the public 88% agreed the refurbishment had improved the shopping centre.
- A strong partnership with London Borough of Waltham Forest, who contributed £317K to the refurbishment.
- A highly supportive response from retailers, who contributed £76K to the refurbishment via the service charge.
The refurbishment is wonderful for Walthamstow and The Mall's new modernised look exceeds our customer expectations. The revamp has refreshed and revitalised the inside of The Mall and adding colour and vibrancy.Alasdair Currie, General Manager of The Mall Walthamstow