Leegate Shopping Centre sold for redevelopment in London

A run-down shopping center in Lewisham, London, has been sold to a developer from Abu Dhabi. The Leegate Shopping Centre, once called the worst in the UK, is now owned by London Square. This marks the company's 14th property acquisition in less than a year and a half. London Square bought the Leegate site, which has been left in disrepair since the 1960s, from Galliard Homes. There are already plans to create a mixed-use development with 562 homes, including 173 affordable units. Additionally, there will be commercial spaces for shops and other services. The developer plans to create a modern community space. This includes residential areas, retail shops, restaurants, and even a medical facility. Construction is expected to start later this year. CEO Adam Lawrence emphasized the importance of this project for the local area. He believes the redevelopment will provide much-needed housing and improve the retail and leisure options for residents. Since being acquired by Aldar, a property company from the UAE, London Square has expanded rapidly. They have significant projects underway across various London boroughs, with plans to deliver over 7,000 new homes in the next five years.