More than 300 million visitors and £7billion in sales: Westfield’s impact on Stratford revealed
PUBLISHED: 14:00 29 October 2018
More than 323 million people have visited Westfield Stratford City since it opened in 2011.
That’s according to a report on the impact of the Shepherd’s Bush, Stratford and the soon-to-be opened Croydon centres, which analyses the environmental, economic and social benefits of the sites.
The report, which uses research from consultancy firm, Volterra Partners, was released to mark the 10-year anniversary of Westfield London, which opened on October 30, 2008.
Christophe Cuvillier, group CEO of Unibail-Rodamco-Westfield, said: “In 10 years, Westfield London and Westfield Stratford City have demonstrated their major contribution to the socio-economic development of London.
“We are proud of this collective achievement and are looking forward to the next 10 years to come. Our two London centres, as well as our future destination in Croydon, will continue to play an important role in the capital.”
To date, £1.75 billion has been invested in Westfield Stratford City, with another £0.67bn earmarked for a housing site. The Cherry Park development will have 1,200 homes, with £30m spent on affordable housing.
The company, whose full name is Unibail-Rodamco-Westfield, opened the Stratford base in 2011, making it the largest shopping centre of its kind in Europe. It has seen 323m visitors and generated £7.4bn in sales since then.
Newham’s mayor, Rokhsana Fiaz, said: “Westfield Stratford City played an important part in the story of what was Europe’s largest urban regeneration project at the time of the London 2012 Olympic Games. The centre brings a lot to Newham, with around a million shoppers a week, jobs, tourism and investment coming into our community.
“The council is proud of the link it has developed with the centre since it opened and how our residents have benefitted.”
The opening of the Shepherd’s Bush and Stratford sites created 32,000 jobs. Around 13 per cent of full-time employment in Newham is currently provided by Westfield, with a fifth of Westfield Stratford’s workers living in the borough.
The company also provided funding for the expansion of Stratford International DLR station and the footbridge linking Stratford town centre to Westfield. Over the next 20 years, it’s expected that Westfield will contribute between £22bn and £30bn to London’s economy. Croydon’s centre is forecast to open in 2023.