PEN FOR BUSINESS With almost £400million investment being pumped into the town centre, Sutton is staking its claim as a place to do business
“The town centre is beginning to see the results of investment in new developments. Such investment would not be taking place if there wasn’t confidence in Sutton’s future.”
Sutton is open for business. That’s the message to investors and developers as the town embarks on an ambitious transformation. A series of key projects, due to be completed in the next five years, will create thousands of new homes and jobs as well as deliver major improvements to transport infrastructure and public spaces.
Other high-profile projects include CNM Estates’ development of Sutton Point, in Sutton Court Road, into a 22-storey building, with two new buildings connected to it that will provide a mix of housing, shops, restaurants and a 130-bed hotel.
Opportunity Sutton, the council’s investment arm, has secured £328 million of private and public funding in the past two years, paving the way for Sutton’s regeneration.
And supermarket giant Sainsbury’s is the anchor store at the redevelopment of the former gas holders site to the north of the High Street. Developer LXB Retail Properties plans to build 186 apartments, restaurants, leisure and retail outlets as well as a public plaza.
The scale of investment has bolstered business confidence with big name chains names including Sainsbury’s, Premier Inn and TK Maxx choosing to move to the town centre. While Subsea 7, a leading global contractor in seabedto-surface engineering and one of the borough’s largest employers, is also expanding its operations in the town.
It also has low unemployment and a thriving commercial sector with 1,118 new businesses opening in 2014.
Construction work has started on its new offices in Brighton Road, which will be home to up to 780 staff, jobs that have been retained in the borough as a result of a proactive approach to planning and a further sign that businesses are recognising Sutton’s potential.
With high prices in central London leading many businesses to look at outer boroughs, Sutton has never been better placed to attract investment.
Recently voted as one of the top five places to live in London, Sutton has direct train links to central London, high performing schools and a wealth of green spaces.
NEW LIFE FOR GAS WORKS
Ross Feeney, chief executive of Successful Sutton, said: “The case for Sutton is compelling. As a business destination it offers affordable office space, good transport links, a skilled workforce and a number of designated development sites.
On a recent visit, London Mayor Boris Johnson said Sutton’s regeneration would enable it to compete with neighbouring business districts.
Demolition of the empty buildings and removal of the two gas holders is nearing completion as part of a £50million development by LXB Retail Properties. On June 1, Linden Homes is scheduled to start work on the residential side of the scheme, building 186 one and two-bedroom apartments in four blocks. Construction is expected to last 18 months before final fitting out of the homes commences. The contemporary buildings will incorporate design features of the site’s old gas cylinder frames. A new 12,221sq m Sainsbury’s supermarket will be the centrepiece of the scheme. Work is due to start on the retail store on September 1 when contractor Galliford Try, which is also building Subsea 7’s new offices in Brighton Road, moves on to the site. The new supermarket is expected to start trading in late 2016.
He said: “London is going to be a multi-polar world with centres of economic focus and interest and Sutton is definitely going to be one of them.” He added that the proposed Tramlink extension between Wimbledon and Sutton, which has the support of the council and the majority of businesses, would improve accessibility and could spur wider economic growth.
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The transformation of the six-acre gas works site at the north end of Sutton High Street is due to start within weeks.
The development also includes a large public square in the south-eastern corner of the site which will be fitted with seating areas, public art and water features along with raised planters and tree planting. Shops and restaurants will line the square.
Major improvements to the junction of Crown Road and High Street are also planned to cope with increased traffic and access to Sainsbury’s 364 space car park. Planning permission was granted in January 2014 for the development, which will form a new northern gateway to the town centre. Giles Haywood, development surveyor at LXB, said the decision to invest in Sutton was twofold based on the site’s potential and the town’s attributes: its proximity to central London, good transport links and current regeneration.
“A site is only as good as what you can derive from it. From the council’s perspective they were looking at a scheme that could potentially unlock that site.” With Sainsbury’s on board and the council’s support for the redevelopment of the gas holders element of the site Mr Haywood said there was potential to deliver a scheme that would incorporate residential and leisure and commercial units as well as public realm improvements. He said: “As an area Sutton is still quite good value, I think that is why house builders and developers are now looking at it.” And he believes the current level of interest and investment in Sutton can be sustained.
“You can see it by the schemes coming out of the ground now. You get a snowball effect of private money being put into the area.” In total the development will create up to 500 new jobs.
NEW HOTEL BOOST TO ECONOMY Hotel chain Premier Inn is coming to Sutton on the back of the town’s regeneration. Planning permission has been granted for a 127-bed hotel and restaurant on the site of the now closed Sutton Superbowl in St Nicholas Way. The £13million development is seen as a step towards addressing a shortage of hotel accommodation in the town centre and it is hoped it will also boost the night-time economy. Under the plans the current three-storey building will be increased to five-stories, with the ground floor converted for restaurant use. Sutton is one of a host of new sites acquired by the hotel chain. Acquisitions manager John Rumsey said: “We are proud to be a part of the town centre’s regeneration and keen to play a role in supporting the local economy. We look forward to starting work on site and opening our doors to customers as soon as possible.” Work is expected to start later this year and once open the hotel is expected to generate 70 new jobs.
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