The Liberty

The Liberty, formally known as The Liberty Shopping Centre, is a covered shopping centre in Romford, in the London Borough of Havering, England. It is the largest covered shopping centre in Romford and the largest indoor shopping centre in the borough. The centre contains approximately 432,000 square feet, or about 40,100 square metres, of retail space and accommodates around 100 shops. Its tenant mix is oriented toward mainstream high-street retail, with fashion, footwear, beauty, health, food, services and other everyday consumer categories represented. The centre is connected to the neighbouring Mercury Mall, which was formerly known as Liberty 2, by an underpass, making the two destinations part of the wider retail environment of Romford town centre. The Liberty originally opened in 1968 through a joint arrangement involving Hammerson and Standard Life Investments. Its name derives from the former Liberty of Havering, reflecting the historical and civic identity of the local area rather than a connection with the unrelated London department store Liberty or other brands using the word “Liberty.” The original scheme was substantially different from the present centre: much of the main retail area was open-air, while covered arcades linked it with other parts of the town centre. A major redevelopment began in August 2001 after planning approval and reached practical completion in April 2003. The four-year redevelopment programme, reported as costing approximately £52 million, transformed the centre into a substantially enclosed retail complex. Key elements included a glazed roof over the principal shopping area, a new car-parking facility and enlarged or newly configured stores for major tenants such as Next and H&M. Existing retailers, including Boots, BHS and W H Smith, were remodelled, relocated or otherwise modernised as part of the project. The redevelopment was intended to improve the centre's weather protection, circulation, appearance and ability to accommodate larger national retailers. Ownership changed during the centre's development. In 1999, Hammerson acquired Standard Life Investments' 50 percent interest for a reported £53 million, and in 2000 it acquired the freehold of the land. In September 2006, the Cosgrave Property Group acquired The Liberty from Hammerson for a reported £281 million. The centre is consequently associated with Cosgrave's property portfolio rather than being a separately listed retail company. The Liberty's role is primarily that of a physical retail destination and town-centre asset rather than a consumer-goods brand. It attracts local residents, visitors from across Havering and shoppers using Romford's broader transport and commercial infrastructure. Reference material describes annual footfall of approximately 23 million visits, equivalent to roughly 425,000 visits per week. These figures position the centre as a significant regional shopping venue, although detailed current trading, tenant, revenue and ownership-finance information is not established in the supplied sources. The centre remains active, with its identity based on its location, retail offer, architectural redevelopment and connection to Romford's town-centre shopping network.

The Liberty began operating in 1968 as a retail development created through a joint arrangement between Hammerson and Standard Life Investments. It was established as part of Romford's town-centre commercial infrastructure and was named after the former Liberty of Havering. The early centre was not fully enclosed: its principal shopping area was largely open-air, with covered arcades extending toward other parts of the town centre. The ownership structure changed before the centre's major physical transformation. In 1999, Hammerson bought Standard Life Investments' 50 percent stake for a reported £53 million. Hammerson then acquired the freehold of the land in 2000. Planning permission for a substantial redevelopment was subsequently secured, and construction began in August 2001. The redevelopment was completed in stages, reaching practical completion in April 2003 and being described overall as a four-year project. The work reportedly cost £52 million. It enclosed the main shopping area beneath a glazed roof, created a new car-parking facility and improved the centre's retail accommodation. New or enlarged stores were provided for Next and H&M, while established occupiers including Boots, BHS and W H Smith were remodelled, moved or modernised. The completed scheme gave The Liberty the form of a contemporary covered shopping centre and strengthened its capacity to host national high-street retailers. In September 2006, the Cosgrave Property Group purchased the centre from Hammerson for a reported £281 million. The Liberty has since operated as part of Cosgrave's property interests. It is linked by an underpass to the Mercury Mall, which was previously called Liberty 2, allowing shoppers to move between the two retail destinations. The completed centre covers approximately 432,000 square feet, equivalent to about 40,100 square metres, and contains around 100 shops. It is described as the largest covered shopping centre in Romford and the largest indoor shopping centre in the London Borough of Havering. Reported annual footfall is approximately 23 million visits, or around 425,000 visits per week. The supplied reference material does not provide a detailed current tenant directory, financial statements, leadership roster or recent campaign history. The Liberty is therefore best understood as an active shopping-centre brand and property asset whose history is defined by its 1968 opening, 2001–2003 redevelopment and 2006 acquisition by Cosgrave Property Group.

• 2006

  Cosgrave Property Group acquires the centre

  [1]The Libertyen.wikipedia.org

  Cosgrave Property Group purchases The Liberty from Hammerson in September for a reported £281 million.

• 2003

  Redevelopment reaches practical completion

  [1]The Libertyen.wikipedia.org

  The redevelopment reaches practical completion in April, introducing the glazed roof, new car parking and improved retail accommodation.

• 2001

  Redevelopment work begins

  [1]The Libertyen.wikipedia.org

  Construction begins in August on the centre's major redevelopment after planning approval.

• 2000

  Hammerson acquires the land freehold

  [1]The Libertyen.wikipedia.org

  Hammerson acquires the freehold of the land on which The Liberty stands.

• 1999

  Hammerson acquires Standard Life's interest

  [1]The Libertyen.wikipedia.org

  Hammerson acquires Standard Life Investments' 50 percent interest in the shopping centre for a reported £53 million.

• 1968

  The centre opens

  [1]The Libertyen.wikipedia.org

  The Liberty opens in Romford through a joint arrangement involving Hammerson and Standard Life Investments.

A large, mainstream covered town-centre shopping destination serving Romford and the wider London Borough of Havering.

• Shopping centre · 1968

  The Liberty Shopping Centre

  The Liberty is a covered retail complex in Romford with approximately 432,000 square feet of retail space and around 100 shops. Its offer is centred on mainstream high-street shopping, including fashion, beauty, health, general merchandise, food and services. The centre's current physical identity largely derives from the redevelopment completed in 2003, which enclosed the principal shopping area beneath a glazed roof and upgraded its facilities.

• 2006

  Sale from Hammerson to Cosgrave Property GroupM&A

  Background

  Following its acquisition of Standard Life Investments' stake and the land freehold, Hammerson owned the redeveloped shopping-centre asset.

  Action taken

  Cosgrave Property Group acquired The Liberty from Hammerson in September 2006.

  Aftermath

  The centre became part of the Cosgrave Property Group portfolio.

  Acquisition price. £281 million (September 2006)

  Source

• 2001

  Major redevelopment of the shopping centreStrategy

  Background

  The original centre included a largely open-air main area and covered arcades. After planning approval, the owners pursued a large-scale transformation to create a more modern covered retail destination.

  Action taken

  Work began in August 2001 on a redevelopment that added a glazed roof, a new car park and improved or enlarged accommodation for national retailers. Existing stores were also remodelled, relocated or modernised.

  Aftermath

  The project reached practical completion in April 2003 and established the centre's current covered-shopping format.

  Redevelopment cost. £52 million (Redevelopment completed in 2003)

  Source

1. 1The Libertyen.wikipedia.org