Harvey Centre shopping complex set to be put up for for sale
Business / Wed 22nd Jun 2022 am30 07:49am
THE owners of the Harvey Centre are set to put the shopping complex up for sale reports Property Week.
The owners, Addington Capital is looking to offload the centre that sits in the heart of Harlow’s shopping area at a guide price of £24.5m.
The Harvey Centre spans 450,000 sq ft of retail and leisure units, anchored by Tesco, Wilko and Iceland.
A cinema-anchored leisure extension was added to the centre in 2016, attracting Cineworld, JD Gyms and a further six restaurants to the centre.
Addington Capital acquired the retail asset in 2011 as part of a portfolio along with two other sites in Cardiff and Burnley.
A source close to the deal told Property Week that there is “potential to bring residential into the site” – including 435 new residential apartments.
The Harvey Centre produces a gross income of £3,654,092 per annum and a net income of £2,660,993 per annum after the deduction of landlord shortfalls.
One of the many questions will be whether Harlow Council, as part of their regeneration plans for the town centre, may get involved in the purchase of the site.
There is also a question of whether the area will remain as a shopping centre or be restructred.
YH will follow this story with interest.
That’s good, more residential properties for our already overcrowded town and hospital and gp/dentist services.
You are joking! This town will die, No focal point , look out , all the other shops , as there is nothing to go to the town centre for. WHAT CENTRE!
As sad as this is, what exactly is there going for this town ?? Authority's have tried on numerous occasions to revive this town and nothing comes good of it. Falls flat on its face every time.
They may turn it into pretty gardens and table tennis tables 🤦♀️🤦♀️
Harlow always bounces back. We're constantly being expanded. We've gone from a small hamlet (old Harlow) to having 2 M11 exits because we're now so big. Everyone wants to live here. This isn't a setback, its an oppertunity.
If im lucky enough to win the lottery im buying it. Think long term investment.
Personally I rarely use the Harvey Centre and I've lived in harlow for 20 years, it's outdated and lacks many leading brands, restaurants are a joke not to mention the empty shops, I can honestly say I've been to westfield Stratford far more than I've used the Harvey Centre in the last few years, the new owners need to do something really radical to attract people back into the centre, Little walk was knocked down over a decade ago and bears more resemblance to the amazon jungle than something that is part of a centre, im guessing there is a sizeable rat population in there as well, I want a decent shopping experience like westfield not the Harvey centre freak show.
Harlow should be aiming to be more like lakeside. Minority of people from bishop Stratford, ware, Epping etc come to Harlow which bring more revenue to the town. I think it’s time this town aim higher and develop as it’s growing very fast.
Readers may be unaware that The Harvey Centre shopping area is in fact only part of the land owned by Addington Capital. There are already plans afoot for new flat blocks adjacent to the shops, which I have to say are unlikely to be affected. Any comparison to Westfield Stratford is not a fair comparison, I would suggest that the current owners have been quite successful in keeping most of the shops occupied. I understand that the former BHS shop is not actually part of the area owned by Addington Capital, this has been up for sale for many months.
My friend said she was told Brent, Haringey and Hackney councils are looking to purchase this site for housing
The trouble is nicholas whoever owns the Harvey Centre and land, promises have been made for the last 10-15 years on it being improved and barely any change has happened, they demolished little walk and left it to rot I've virtually given up on shopping in the town centre and would rather spend the extra and go to westfield or lakeside.
Mike, the land in and around the former Little Walk is owned by Strawberry Star, not the owners of the Harvey Centre. You are right in one sense though, the derelict land parcels have been bought as an investment, gaining value as Planning Permission has been obtained and then sold on, just as the former Square site has. In the meantime much of the North and West side of the Town Centre looks like a bomb site. To date the Council has not taken enough action to break this cycle of events.
Just face facts, the advent of online shopping has done for high street shopping and Harlow town centre will never be the attraction for the metropolitan elite which Harlow Council are claiming. It will be turned into a warren of rabbit hutch-size flats filled with addicts from London boroughs. And the same will happen with Queensgate etc within 10 years.
That’s Harlow town killed then. What a joke. This can’t be allowed to happen!!
I want the burger king complex
Instead of the Harvey centre , how about getting the bomb sites that are already there sorted out .. get the government to slap a compulsory purchase order on the old Odeon site , get rid of the people that have turned our once lovely town centre into a dystopian wasteland..
Well done harlow council yobs, you've managed to destroy Harlow in one foul swoop