£1Bn scheme approved for Croydon

£1Bn scheme approved for Croydon

Croydon's £1Bn town centre redevelopment has been granted outline planning permission for a 1.5 million sq ft scheme that should start on site in 2015.

 

Developers Westfield and Hammerson who each own part of the site ended a long period of wrangling over rival schemes earlier this year and combined on the plans that were given approval by the London Borough of Croydon last night. The partners also intend to refurbish the adjacent 500,000 sq ft Central shopping centre for which planning permission has already been granted.

 

The project involves retail, leisure and restaurant units, new public spaces, car parking and up to 600 apartments. The developers, calling themselves the Croydon Partnership, have agreed to pay £15M to develop the Croydon tram network, £10M towards local buses, £2.5M for local highways, £1.62M for sustainable transport initiatives and £1.3M to support local employment and training initiatives. 

 

The plans now go before the Mayor of London before detailed designs are produced for approval next year.

 

Westfield director of development John Burton said:  “This is a significant step forward in our plans for the redevelopment of Croydon's retail town centre and importantly will create 5,000 new local jobs.

 

 “We believe that our proposed £1bn investment into the transformation of Croydon's shopping and leisure offer has the potential to act as a major catalyst for the wider physical and social regeneration of the town. The support we received from the Council this evening further strengthens that belief.”

 

(Photo: Hammerson)

Please rate

Comments 

Ctrl + Enter

Most Read

How candidates can approach recruiters and land that job!

How candidates can approach recruiters and land that job!

If you go to a career fair, there are bound to be tons of recruiters and eager students vying for limited positions. However, the big question is, how do you stand out from the other multitude of job seekers?   It is true that not everybody is great at networking and not everybody knows how

How to make giant strides in the water industry

How to make giant strides in the water industry

A cumulative total of 44 billion pounds will reportedly be spent by water companies in England and Wales over a management period that spans over a five-year period up till 2020. It is expected that midway through this management period; several water companies would have enough capital to execute

How Blockchain Technology is changing the Energy Sector

How Blockchain Technology is changing the Energy Sector

The disruptive potential of blockchain technology is becoming more evident with every passing day. From the proliferation of cryptocurrencies, and its increasing applications in other areas including banking, gaming, music licensing, as well as the energy sector, blockchain technology is

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.