Citygrove, the developers of the Old Dairy in South Ruislip have won a presitigious regeneration award.
It is thought the development will bring around 600 new jobs to the area.
The site won the Royal Institute of Chartered Surveyors London award for Regeneration, and was pitted against ten other sites.
In November, the site will compete against other regeneration projects from across the country to be crowned national champions.
The judges said: "Citygrove have overcome a number of challenges to totally transform the site into a new shopping and leisure destination, with new residential units, a petrol station and public realm improvements.
"The judges were impressed with the strength of local community collaboration, who drove forward a scheme to meet their needs. In doing so, an unofficial new heart to the town centre has been formed.’
Andrew Rennie from Citygrove said: “We are delighted to have won the award for Regeneration. Watching the scheme take shape from the derelict site we saw at the beginning to a place where the local community can enjoy their leisure time at is highly rewarding."
The site is now mostly opened, with Asda, Nando's and Chiquito's already open and Cineworld due to open on July 5.
Residents have also begun moving into their new homes.