In Contact Newsletter - Winter 2013

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In Contact Winter 2013

Major £1bn regeneration boost for Croydon Town Centre Months of speculation over the future of Croydon Town Centre have been brought to an end following the announcement by developers Hammerson and Westfield that they are joining forces to regenerate the retail heart of Croydon. Under a new joint venture agreement, the two organisations have pledged to spend £1bn on re-developing and combining the town’s two main shopping centres, Centrale and the Whitgift Centre, to provide a major retail, leisure and residential scheme with the potential for hotels and offices and the creation of 5,000 new jobs.

work could commence in 2015. Welcoming the announcement, London’s Mayor, Boris Johnson said: “Croydon has huge potential to return to its former glory as one of London’s most vibrant town centres, and a major driver of its economy. “It’s great news that these two international developers are coming together to drive forward this vital regeneration and put Croydon at the heart of London’s f u t u r e p r o s p e r i t y, building c o n fi d e n c e for investors and local people in one of the capital’s most important town centres.”

Potential for

5,000 new jobs

A revised master plan will be created combining elements of both companies’ earlier schemes and, subject to planning consent later this year, construction

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Westfield’s Chairman, Frank Lowry AC said: “The delivery of a major retail

regeneration scheme will re-establish Croydon as South London’s premier shopping district and will be a catalyst to further investment and development.” David Atkins, chief executive of Hammerson said “We have shown our commitment to Croydon through our existing investments in the Town Centre and I believe that by working together we can deliver a world class scheme for retailers and residents”. “This is fantastic news for Croydon and for anyone interested in safeguarding its future and is testament to Croydon’s significance as a strategic, commercial location,” said Croydon BID’s chief executive, Matthew Sims.

project comes to fruition,” he added. See page two for an inside view from Westfield and Hammerson.

“Croydon has huge potential to return to its former glory as one of London’s most vibrant town centres...”

“A collaboration of this size and scale by two world-leading retail developers will present the town with unparalleled opportunities for future growth. “Although there undoubtedly will be many complex issues to address, we look forward to working together with all key stakeholders to ensure the

Tel: 020 8603 0050

Email: info@croydonbid.com


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