A significant milestone in the future of Slough town centre has been reached, as Berkeley entered into an agreement to acquire the Observatory and Queensmere Shopping Centres.
The deal, due to complete later this summer, paves the way for an ambitious regeneration scheme on the Queensmere Shopping Centre site that will revitalise the high street, and breathe fresh life into the heart of the town.
Located in the centre of Slough, the 9.2-acre site represents one of the most prominent redevelopment opportunities in the South East, with outline planning already secured to create 1,600 new homes, alongside new retail, leisure and entertainment space. There are no immediate plans to redevelop the adjacent Observatory Shopping Centre.
Berkeley will take forward the existing proposals to deliver a high-quality, residential-led mixed-use development. Plans include a thoughtfully designed public realm, extensive landscaping across the site, and a mix of new homes, community spaces, leisure facilities, and food and drink destinations - designed to reflect the needs of modern town centre living.
The scheme will also introduce new pedestrian routes, improving connectivity between the station, Wellington Street, and the southern end of the High Street.
Elkie Russell, Managing Director of Berkeley Homes, Oxford & Chiltern, said: "We are thrilled to continue playing an integral role in the regeneration of Slough. Our ambitious transformation of the iconic Horlicks Factory into a superb collection of new homes and residents’ facilities, has already created a vibrant new neighbourhood in the town centre.
“By acquiring this additional site, bringing forward new homes and breathing life into the high street, we will continue to support the long-term growth and success of Slough.
“Our vision is to enhance and support a thriving, sustainable town centre that reflects the energy and diversity of the local community "
Pat Hayes, Slough Borough Council’s Executive Director Regeneration, Housing and Environment, said: “It is brilliant news for Slough that top UK residential developer Berkeley have bought the Queensmere and Observatory shopping centres from the Abu Dhabi Investment Authority.
“Berkeley are already delivering the award-winning Horlicks factory scheme and they are a company with the financial clout, expertise and ambition to deliver a comprehensive transformation of the High Street.
“The council has worked hard to help facilitate this sale to enable the regeneration of the High Street to be brought forward and we look forward to continuing our successful relationship with Berkeley.
“With this announcement and the start of work on the former TVU site, Slough town centre is on the cusp of transformation.”
The acquisition signals a major step forward in Slough Borough Council’s ambitions to drive investment and regeneration across the town, building on recent infrastructure improvements and its strong transport connections, including the Elizabeth Line and close proximity to Heathrow Airport.
Berkeley is purchasing the Observatory and Queensmere Shopping Centres from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Further details about the proposed development, including timelines for proposed works, will be shared in the coming months.
Berkeley Group specialises in brownfield regeneration, working closely with local communities and councils to revive underused land and create good green homes where they are needed most.
The company is the only major UK homebuilder to focus on brownfield land, as it transforms 32 of country’s most challenging large scale sites.
Find out more about Berkeley’s approach to brownfield regeneration.