Westfield Stratford City, the UK’s number one shopping centre, today celebrates its first five years of successful trading attracting a record breaking 220 million shoppers and delivering £5bn in retail sales.
The centre has seen sales rise by 32% since opening, with fashion, food and beauty categories seeing strong growth.
The centre has attracted close to 30 UK first stores and concepts for local and international retailers, among them Victoria’s Secret, American Eagle, Stradivarius, Missguided, Cadenzza, Lindex, Smiggle and a new Ikea small format, all of which have chosen Westfield Stratford City ahead of other UK locations.
And the scheme has a bright future.Under Westfield’s expansion plans for Stratford, 120,000sq ft of extra retail space will be created, as well as up to 800,000sq ft of offices. In addition, 1,225 residential homes will be delivered.
The new expansion plans will create up to 10,000 new jobs bringing Westfield Stratford City’s total jobs for London to 20,000. Upon opening of the centre, Westfield, together with Newham Council, pioneered new ways of ensuring training and employment opportunities were provided for the local community with 40% of jobs awarded to residents of Newham.
The London 2012 Olympics, coupled with Westfield Stratford City has proved a catalyst for the regeneration and development of Stratford, creating a new capital of East London. As the first piece of Olympic legacy, Westfield invested £1.8bn in Stratford City.
This has been followed by additional inward investment from other developers. By 2025, it’s estimated that £22bn will be invested in the area. Forthcoming developments include new residential and offices along with a new Culture and Education Quarter in the Olympic Park, Stratford Waterfront with University College London East, London College of Fashion, the V&A Museum and Sadler’s Wells expanding to Stratford.
There is no other location in London that has the holistic offering of unparalleled retail, offices, residential, Olympic sporting facilities, a cultural and educational hub as well as superior transport connections which will soon be bolstered by the opening of Crossrail.
Peter Miller, chief operating officer, Westfield UK and Europe, said: “Five years on, Westfield Stratford City has made history by breaking shopping centre records and is the number one shopping centre in the UK and Europe’s largest. The centre and Stratford as a destination are thriving. We look forward to continuing to attract the best and most innovative retailers and continuing to invest and grow with our new plans to bring offices, new homes and jobs to the area.”