Windsor Yards has new owners who are hoping to rejuvenate the shopping centre into a ‘modern development’.
The 260,700sq ft centre, which was formerly known as King Edward Court, has been bought out by AEW UK Investment Management under its Urban Real Estate Strategy (UREF).
Windsor Yards compromises a mix of uses including retail, hotel, supermarket, car park, and residential.
AEW will be working with the Royal Borough of Windsor and Maidenhead (RBWM) in a public/private collaboration and engaging with local stakeholders in a bid to rejuvenate Windsor Yards.
Windsor MP Adam Afriyie says this announcement brings ‘hope and a bright future’ for the town centre and is ‘over the moon’ for Windsor.
He said: “Windsor town centre has been crying out for a boost for some time. With hundreds of local businesses, thousands of shoppers and millions of visitors each year, this new investment and approach is to be warmly welcomed.”
Nick Winsley and Charles Royle, Joint Portfolio Managers of UREF at AEW said: “Town centre high streets such as this in Windsor have undergone significant changes over the past 15 years driven by the continued closure of retail units, and the pandemic has only added to this fundamental shift.
“Windsor is a town of international renown, drawing visitors from across the UK and abroad to visit the royal residence, its historic centre and the surrounding area.
“Windsor Yards is an excellent opportunity to acquire real estate in a prime location with the potential to transform the site into a modern development that can better meet the needs of Windsor, its visitors and its community. We look forward to securing similar opportunities in the near future.”
Councillor Andrew Johnson, leader of RBWM, added he welcomed AEW’s investment in Windsor and looks forward to working with them.