Shopping mall in the centre of Ilford, attracts over 12 million visitors per annum from a catchment of 588,000 people.Meyer Bergman confirms it has had a significant increase in retailer interest and deals for space at Exchange, Ilford over the last twelve months – principally due to commencement of Crossrail services to and from Ilford next year.
A series of new brands have jumped at the chance to be part of the centre – including the 24-hour gym brand Anytime Fitness signing for 5,900 sq ft (548 sq m) and H&M which recently opened a major two-floor store at the centre. These and other store openings during the last 12 months, along with a sales increase of +13% for the period January-August 2016 and footfall attracting over 11 million visitors per annum demonstrate the continued strong performance of the centre. Furthermore, recent research predicts Crossrail will bring an extra £5 million of consumer spend into the area.
Other new deals at Exchange, Ilford include Costa opening its second unit at the centre with an 800 sq ft store (74 sq m), Supercuts taking an 856 sq ft (79 sq m) space, and Creams Café opening a new store of 3,800 sq ft (353 sq m). The signings add to the total 10 retailers taking space at the centre this year - including H&M which opened a major, two-level 20,000 sq ft (1,858 sq m) store on 15th September 2016; New Look (7,500 sq ft, 697 sq m), Rymans (2,000 sq ft, 186 sq m), Clintons (1,500 sq ft (148 sq m) and Pandora (1,600 sq ft, 148 sq m), totaling 50,000 sq ft (4,645 sq m) of newly let space in the past 12 months.
The Elizabeth Line is scheduled to service Ilford from May 2017 following new plans submitted recently to dramatically upsize the town’s station due to the anticipated demand it will bring. 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.
Meyer Bergman’s recent planning permission for a residential development at the centre for 214 new homes and 3,229 sq ft (300 sq m) of commercial space will also contribute to the future landscape for the town, with 2,150 homes set to be constructed to support the arrival of Crossrail.