Watford council has teamed up with Capital Shopping Centres to redevelop Charter Place in the town centre.
The council is in discussions with CSC to take forward the redevelopment of 400,000 sq ft Charter Place as part of a wider land transaction.
CSC proposes to lease and redevelop Charter Place before incorporating it into the 726,000 sq ft Harlequin shopping centre, the freehold of which is owned by the council.
The decision, taken by Watford council’s cabinet on 18 June, is subject to finalising legal and commercial negotiations in the coming weeks.
The new alliance brings discussions between the council and Henry Boot Developments to an end. The developer was selected last June to take forward the redevelopment of Charter Place.
Managing director of Watford council, Manny Lewis, said: “Everyone is agreed that bringing Charter Place into the 21st century is vital to the town’s success as a leading regional destination for shopping, entertainment and leisure.
“When we considered CSC’s proposals we felt that their unique ability to incorporate Charter Place with the Harlequin and their other existing interests meant they were in the best position to ensure that the redevelopment will become a reality.”
annabel.dixon@estatesgazette.com
