LB Hounslow has agreed to formal talks with Legal & General over the redevelopment of Hounslow Town Centre.
Councillors have approved plans to enter negotiations with Legal & General Property (LGP) which will agree how the site between the Blenheim Centre and Hounslow High Street, presently a surface car park, can be redeveloped.
Councillor Ruth Cadbury, Deputy Leader of Hounslow Council, said: “This shows that despite the current economic outlook, investors see the potential of the town and are prepared to put money into the area.
“Legal and General Property has a strong track record of delivering major, successful development and regeneration projects, and we look forward to seeing the plans for the site.
“We will be continuing to press ahead with our wider plans for the town centre, which will create jobs and opportunities for years to come.”
The council owns most of the site, and LGP own a substantial part of the remaining land, as well as the Blenheim Centre. The agreement provides both the council and LGP with reassurance that the other is committed to redevelopment. This will allow negotiations about the scope of the redevelopment to take place, whilst a planning application is drawn up and submitted.