In a move to shore up its fortunes, Lowe’s has been putting the finishing touches on a new £5bn building in south-west London.
The £5.9bn project will see the building built as a new shopping centre, hotel and restaurant complex.
It will be the company’s biggest ever residential development.
But what’s behind the new plans?
Why is the property worth so much?
Find out here.
Lowes says it wants to create a “world class” shopping centre in south LondonThe company, which owns many high street retailers, has spent years looking for a location where it can create a new destination for its shoppers.
This is what the building will look like when completed:The site is in the city centre and is currently home to the UK’s largest high street retailer, H&M.
The building will be a shopping centreA new shopping complex has been planned in the area.
It would include retail and restaurants, as well as apartments and offices.
This will include a large supermarket and a food hall.
It’s a big developmentIt’s also the second building the company has completed in south east London in the past 12 months.
The first was the £2bn Tesco Centre, built in 2013.
It is the largest building in the UK to be constructed by a company other than Lowe’s, after the Shard in London, which has been estimated to cost £6.6bn.
It will be used for retail and restaurant operationsThe building’s construction will be undertaken by a group of private investors led by UBS, which will have a stake in the project.
It has already secured financing from China’s Sichuan Investment Group.
Lowe’s says it is also in the process of acquiring a “huge” investment in the property, worth an estimated £1.4bn.
Low, as part of a series of deals in recent years, has also purchased properties in the North West of England, including the £1bn estate at Houghton Bay in Worcestershire, and the £400m development at Basingstoke in south Gloucestershires.