London's Malls

[MrSlippery519]

The Lowe's location I am looking forward to, but honestly what other retail could going into this place?

They need to find some creative way to make these massive places for pedestrian friendly which obviously now they could care less. "come do all your shopping here...and drive to each different spot"

Great.

[jammer139]

The Walmart from White Oaks mall has been rumored to be moving here and becoming a SuperCenter. If so then that would rule out a grocery store.

Originally Posted by MrSlippery519

The Lowe's location I am looking forward to, but honestly what other retail could going into this place?

They need to find some creative way to make these massive places for pedestrian friendly which obviously now they could care less. "come do all your shopping here...and drive to each different spot"

Great.

[ssiguy]

Don't you just hate the name "Supercentre!

[haljackey]

I believe Wal-Mart owns the land at the southeast corner of Wonderland and Exeter.

They will wait for the right moment to strike. Once there's sufficient competition, these stores go up quick and siphon off a huge chunk of the clientele that goes to this area.

Will the White Oaks location remain? I have no idea.

[GreatTallNorth2]

The latest Business London magazine shows that Masonville Place is getting a Nando's restaurant. My life is now complete. I love Nandos - it's one of the most popular restaurants in the UK. Spicy Portuguese chicken.

[jammer139]

Great news. Happy to see Nando's come to London. About time for them to spread out from the GTA.

Originally Posted by GreatTallNorth2

The latest Business London magazine shows that Masonville Place is getting a Nando's restaurant. My life is now complete. I love Nandos - it's one of the most popular restaurants in the UK. Spicy Portuguese chicken.

[tyeman200]

Originally Posted by haljackey

I believe Wal-Mart owns the land at the southeast corner of Wonderland and Exeter.

They will wait for the right moment to strike. Once there's sufficient competition, these stores go up quick and siphon off a huge chunk of the clientele that goes to this area.

Will the White Oaks location remain? I have no idea.

I know someone who works at that Walmart location and they said there's no plans at the moment to build another walmart/replace the whiteoaks one.

[GreatTallNorth2]

Masonville Place has applied to the city to change the Target space from retail to entertainment. It appears to be something similar to the Playdium in Mississauga. Not a bad idea as this city has very little in the way of entertainment.

http://sire.london.ca/cache/2/cjsaqc552nhsgn45uvfkvy45/24898310132016102750884.PDF

[ericlewis91]

Originally Posted by GreatTallNorth2

Masonville Place has applied to the city to change the Target space from retail to entertainment. It appears to be something similar to the Playdium in Mississauga. Not a bad idea as this city has very little in the way of entertainment.

http://sire.london.ca/cache/2/cjsaqc552nhsgn45uvfkvy45/24898310132016102750884.PDF

link doesn't work

[GreatTallNorth2]

Try this:

http://sire.london.ca/cache/2/rnzbopfbqlj42045s5p3vafh/24898310132016035222265.PDF

[K85]

"404 - File or directory not found." to both links

[jaradthescot]

That's odd.. Worked for me yesterday, but is down now. Maybe they keep moving the file for some reason.

[haljackey]

Former Target in Masonville might have its second floor turned into a Palasad-like facility:
http://www.lfpress.com/2016/10/16/mall-i...ransform-space-into-entertainment-centre

Maybe make the first floor a mini-putt? That would be a great return for the mall.

-----

Still no news for the Westmount location. I'd say it's a good spot for a gym or library.

[MolsonExport]

Has anyone visited Wastemount Mall since the Sears closed? Are there any customers besides senior mall walkers?

[K85]

Holy shit...


The Westmount Shopping Centre in southwest London has been sold to a huge Toronto real estate investment firm in a $31.5 million deal.

KingSett Capital purchased the property last month from Penretail Management on behalf of Bentall Kennedy, a Vancouver-based company that has owned the property since 2005.

KingSett bills itself as “Canada's leading private equity investment firm” and has $12.5 billion in assets including office, retail, industrial and residential properties. It has a stake in Scotia Plaza in downtown Toronto, Canada's third-tallest building.

Officials at KingSett could not be reached immediately for comment.

The sale comes at pivotal time for the mall following the closing of its major retail anchor, Sears, last month.

The mall was originally developed in the early 1970s by Sifton Properties as a retail centre for the surrounding Westmount neighborhood and expanded to two stories in 1989.

But under the pressure from big box stores, the mall gradually lost retailers and the second floor was converted to office/medical uses including a kidney dialysis centre.

In 2010, a portion of the mall was demolished. A number of standalone businesses now occupy the 12-hectare site including a Cineplex Odeon movie theatre.

http://www.lfpress.com/2018/02/05/londons-westmount-mall-sold-for-315m

[Stevo26]

Originally Posted by K85

Holy shit...


The Westmount Shopping Centre in southwest London has been sold to a huge Toronto real estate investment firm in a $31.5 million deal.

KingSett Capital purchased the property last month from Penretail Management on behalf of Bentall Kennedy, a Vancouver-based company that has owned the property since 2005.

KingSett bills itself as “Canada's leading private equity investment firm” and has $12.5 billion in assets including office, retail, industrial and residential properties. It has a stake in Scotia Plaza in downtown Toronto, Canada's third-tallest building.

Officials at KingSett could not be reached immediately for comment.

The sale comes at pivotal time for the mall following the closing of its major retail anchor, Sears, last month.

The mall was originally developed in the early 1970s by Sifton Properties as a retail centre for the surrounding Westmount neighborhood and expanded to two stories in 1989.

But under the pressure from big box stores, the mall gradually lost retailers and the second floor was converted to office/medical uses including a kidney dialysis centre.

In 2010, a portion of the mall was demolished. A number of standalone businesses now occupy the 12-hectare site including a Cineplex Odeon movie theatre.

http://www.lfpress.com/2018/02/05/londons-westmount-mall-sold-for-315m

This doesn't surprise me. It was either this, or kick out the dialysis centre, kick out the doctors and the retailers and tear the entire building down and have a large, vacant piece of land left over, something that would be difficult to sell.

[Spoofy]

Originally Posted by K85

Holy shit...


The Westmount Shopping Centre in southwest London has been sold to a huge Toronto real estate investment firm in a $31.5 million deal.

KingSett Capital purchased the property last month from Penretail Management on behalf of Bentall Kennedy, a Vancouver-based company that has owned the property since 2005.

KingSett bills itself as “Canada's leading private equity investment firm” and has $12.5 billion in assets including office, retail, industrial and residential properties. It has a stake in Scotia Plaza in downtown Toronto, Canada's third-tallest building.

Officials at KingSett could not be reached immediately for comment.

The sale comes at pivotal time for the mall following the closing of its major retail anchor, Sears, last month.

The mall was originally developed in the early 1970s by Sifton Properties as a retail centre for the surrounding Westmount neighborhood and expanded to two stories in 1989.

But under the pressure from big box stores, the mall gradually lost retailers and the second floor was converted to office/medical uses including a kidney dialysis centre.

In 2010, a portion of the mall was demolished. A number of standalone businesses now occupy the 12-hectare site including a Cineplex Odeon movie theatre.

http://www.lfpress.com/2018/02/05/londons-westmount-mall-sold-for-315m

This is a huge deal for Westmount Shopping Center. KingSett isn't just your average joe investment firm. If you look at some of their other projects, these guys are a big deal. They definitely don't want to turn Westmount mall into just a parking lot or just a Dialysis center. I feel like they have bigger plans for the mall, possibly even demolition, and construction of a new structure because god knows what state the mall is in.

[Stevo26]

Originally Posted by Spoofy

This is a huge deal for Westmount Shopping Center. KingSett isn't just your average joe investment firm. If you look at some of their other projects, these guys are a big deal. They definitely don't want to turn Westmount mall into just a parking lot or just a Dialysis center. I feel like they have bigger plans for the mall, possibly even demolition, and construction of a new structure because god knows what state the mall is in.

I could see demolition in toto and creation of an entirely new building being a realistic prospect as Westmount is a fairly old mall to begin with. The existing structure is more of a demolish-and-retrofit kind of thing and built as a stop-gap measure rather than a site that has some flexibility in how it is configured.

[Djeffery]

The building itself is less than 30 years old after being entirely rebuilt in the late 80's. And it has 2 levels of underground parking, which would probably cost the purchase price itself to build. I friend of mine from Bentall had told me a couple years ago they had plans for a condo at the Target store if they couldn't fill it. Wouldn't be surprised if the new owners adopted that idea. Heard Georgopoulos on the radio and said these new owners aren't really developers though, so who knows what they might have in mind. Doesn't mean they couldn't develop though, something would have to be their first if they did.

[MolsonExport]

Westmount Mall sold with a community-focused redevelopment vision

http://www.cbc.ca/news/canada/london/westmount-mall-sold-in-london-1.4520922