Angel Central to receive £8 million investment
CBRE Global Investors is to commit nearly £8 million for improvements to the Angel Central shopping and leisure destination in London’s Islington.
Planning has been submitted for phase one of the improvements which are set to commence in January 2018. The plans include a new link bridge at the Liverpool Road entrance and the introduction of three new restaurants. In addition, there will be a new lighting scheme, cladding and upgraded flooring. The works are due to be completed in early 2019.
CBRE Global Investors have acquired 19 Upper Street for £4.5million as part of future plans to create a new gateway into the Angel Central scheme which is to include a rooftop restaurant.
Spanning 170,000 square feet, Angel Central has an annual footfall of 10 million. Anchored by H&M, its retail line-up includes Gap, French Connection, Rituals, Monsoon and Oasis. The centre also has a Vue ten-screen cinema, an O2 Academy and restaurants such as Gourmet Burger Kitchen and Wagamama.
Laura Wilson-Brown, director at CBRE Global Investors, said: “We are pleased to be able to share our vision for Angel Central. Our investment highlights the importance we place on the visitor experience and our desire to grow Angel Central as one of the leading retail and leisure destinations in North London. The refurbishment and development will create an attractive, welcoming space for visitors to meet, day or night, whilst also building upon the leisure offers already available, such as the cinema and the O2 Academy.”
Queensberry, the development manager for Angel Central, has been appointed to deliver the vision created by the Haskoll architects practice.
Stuart Harris, commercial director and co-founder at Queensberry Real Estate, added: “Islington is a prime part of Central London currently undergoing a great deal of development and Angel Central is in a key location on Upper Street, in close proximity to the underground station. The investment planned is part of a wider re-positioning to revitalise Angel Central as one of the most exciting retail and leisure destinations in North London.”
