In the early 1990s, the buildings along Finchley Road were demolished in preparation for the centre, but problems with planning permission, with concerns over traffic in particular, led to construction being delayed by many years.

[4] A great deal of consultation took place with local residents, including asking them to vote from a choice of 3 designs for the exterior of the building, relating to different kinds of periodic elements – and asking them to suggest a name.

[citation needed] The O2 Centre opened with London's largest branch of Sainsbury's at the time,[5] and a Warner Village cinema (now Vue).

[citation needed] The centre contains a Sainsbury's, Aldi, Vue Cinema, Virgin Active, Waterstones and some restaurants such as Wagamama, Nandos, Zero Zero and Starbucks.

[14] In December 2020, Landsec announced it would be closing the O2 Centre, which would be demolished for 1,800 new homes to be built, with some retail included, in the future.