Plans for the redevelopment of Shepherds Bush Market in west London have been scrapped after a four-year legal battle between the developers and local traders.
The move marks a victory for the market’s tenants.
U+I will continue to manage the market alone, working with local traders to improve it, while abandoning plans for a residential-led mixed-use development.
Joint venture partner Orion Land & Leisure will no longer have any involvement or financial interest in the development.
The decision marks the end of a lengthy period of disagreement between the developers and local traders, who argued that the redevelopment would cost them their livelihood.
Orion Shepherds Bush Limited, the joint venture between the two developers, bought the majority of the site from Transport for London in 2014 as part of a complex process of land assembly. It signed a £44.1m agreement with Pramerica Real Estate Investors, now known as PGIM Real Estate, to fund the first phase of regeneration.
Plans for a 212-home scheme alongside 32,658 sq ft of retail space and the redevelopment of the 140-unit market were granted permission in 2012. The scheme would have had a GDV of £250m.
Alongside this, Hammersmith and Fulham Council then made a compulsory purchase order to facilitate the plans. This was confirmed by the then communities secretary Eric Pickles in October 2014.
However, the Shepherd’s Bush Market Tenants Association, led by chairman James Horada, claimed that the secretary of state’s decision – and thus the CPO – was based on errors of law.
A high court judge rejected their claim in July 2015, but the traders won on appeal in March 2016, with court of appeal judges saying Pickles had not given proper reasons for his decision.
See also:
From 1 March 2016: Shepherd’s Bush Market redevelopment appeal this week
From 3 March 2014: Pramerica funds Shepherd’s Bush regen
From 18 October 2012: H&F agrees Shepherds Bush CPO
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