23 November 2021
Regal London and Joseph Partners have entered into a land agreement with the London Borough of Barnet for the regeneration of North Finchley Town Centre, one of Barnet’s main town centres.
Regal London, with Joseph Partners, are an ambitious and experienced investment delivery team with significant local knowledge capable of revitalising this important neighbourhood. A North Finchley Partnership Board including representatives from across the local community alongside the developers and public sector has been set up to keep local communities engaged and involved as the project progresses.
The Council has been clear in its aim to support the continued vitality and viability of its town centres, focusing on both housing and commercial investment and to promote Barnet as a place of economic growth and prosperity. This requires a strong partnership between the public and private sector and a scale of vision that can act as catalyst for regeneration.
North Finchley Town Centre has seen an increase in vacancy rates over the past 15 years and as identified within the Council’s own planning documents, there is a recognised need to rationalise and improve both the public realm and transport. Currently at an early stage, Regal London is committed to supporting the revitalisation of the area including the creation of a vibrant town centre and cultural quarter.
For the last decade or more, high streets and town centres across the country have faced a multitude of long-term challenges including competition with online shopping and changes in consumer habits which have been exacerbated and accelerated by the pandemic. Covid-19 has accelerated this decline, requiring places to adapt to succeed to avoid risking not just further economic damage, but the loss of our cultural and social infrastructure.
Jonathan Seal, CEO, Regal London said,
“This is a once-in-a-lifetime opportunity to effect fundamental change – not only to improve the physical environment, but more importantly on the fortunes of those who live near the regeneration area. We share the ambitions of the London Borough of Barnet and Joseph Partners to make North Finchley a diverse, distinctive and attractive place which is well connected, helping to transform London both sustainably and equitably.
“We are looking forward to working closely with our local communities ensuring that we really understand the challenges and opportunities the town centre faces and that we can accelerate North Finchley’s journey to realising its full potential.”
Jonathan Joseph, Principal, Joseph Partners said,
“Working in partnership with Regal London and Council provides a great opportunity for North Finchley to become the bustling hub that it deserves to be. I’m thrilled to be embarking on this journey with such innovative and creative partners.
Stephen McDonald, Director of Growth, London Borough of Barnet said,
“We are supporting our town centres to thrive through strengthening their local identities and creating spaces that everyone can spend time in and enjoy. Each urban centre serves a unique, diverse community and requires a bespoke vision, and the challenges of the last two years have made it quite clear that traditional high streets and town centres must adapt to thrive. Working with Regal London and Joseph Partners provides a fantastic opportunity for North Finchley to be reinvigorated, providing high quality public realm, infrastructure improvements, homes, offices and cultural spaces for the community.”
Jonathan joined Regal London in 2016 as a Non-Executive Director and was appointed Managing Director in January 2017 before assuming the role of Chief Executive Officer in July 2020. Prior to joining Regal London full time, Jonathan spent 25 years’ working in law, corporate finance, publicly listed funds and private equity. Jonathan is both a member of Regal London’s Executive Committee and Management Committee.