Ilford shopping centre booming as Crossrail beckons businesses
PUBLISHED: 17:42 25 October 2016 | UPDATED: 17:42 25 October 2016
The Crossrail project has sparked a flurry of investment from major brands in the borough’s largest retail hub.
The Exchange shopping centre, High Road, Ilford, has welcomed 10 new businesses in the last 12 months, as the long-awaited Elizabeth line approaches.
The new rail service, scheduled to begin running from an expanded Ilford station from May 2017, will vastly improve connections between the town centre and the rest of the capital.
Funding from the scheme will also go towards a major overhaul of the town centre.
A spokeswoman for Meyer Bergman, which owns the Exchange, said: “The shorter commute to London has significantly increased Ilford’s desirability as a residential destination, with research predicting further wealthier customers will be attracted to the area.”
This year has seen a number of popular brands open new premises in the centre, with H&M recently opening a large two-floor store, Costa Coffee opening a second unit and Clinton’s and Pandora both unveiling new shops.
Dessert lovers across Redbridge will also be delighted to learn that a Creams Cafe will be opening in the Exchange later this year.
And in case anyone feels the need to burn off all those crepes and waffles, Anytime Fitness will also be launching a gym at the centre.
Mark Gamble, Meyer Bergman’s executive director of asset management, believes this year’s success is only the beginning.
He said: “The Crossrail effect is evident, with residential asking prices up 29.5 percent in Ilford over the past year alone.
“More people are opting to live in the area, setting the scene perfectly for our upgrade in retail offering.
“We are looking forward to welcoming even more retailers to the centre to cater to the increased demand we are set to experience once the Elizabeth line services the town.”
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