10:30AM, Monday 10 May 2021
Windsor Yards has been sold to a new owner which hopes to 'transform the site into a modern development'.
The shopping centre, which used to be called King Edward Court, has been acquired by AEW UK Investment Management under its Urban Real Estate Strategy (UREF).
The site covers 260,700 sq ft and includes a hotel, supermarket, retail, car park and residential.
AEW UK said it was looking forward to working with the Royal Borough in a 'public/private collaboration' to undertake a 'rejuvenation' for Windsor Yards.
Nick Winsley and Charles Royle, joint portfolio managers of UREF at AEW, said: “Town centre high streets such as this in Windsor have undergone significant changes over the past 15 years driven by the continued closure of retail units, and the pandemic has only added to this fundamental shift.
"Windsor is a town of international renown, drawing visitors from across the UK and abroad to visit the royal residence, its historic centre and the surrounding area.
"Windsor Yards is an excellent opportunity to acquire real estate in a prime location with the potential to transform the site into a modern development that can better meet the needs of Windsor, its visitors and its community."
Royal Borough council leader Andrew Johnson said he 'welcomed' the announcement and that the council looked forward to working with AEW.
Windsor's MP Adam Afriyie said Windsor town centre has been 'crying out for a boost for some time'.
He said: “There is hope and a bright future for our wonderful town centre and I want to thank AEW, the Royal Borough and the whole team for making this possible. I’m over the moon for Windsor.”
The changes could see Colnbrook with Poyle, Langley Kedermister and Foxborough wards moved from Slough to the Windsor parliamentary constituency.