The retail property firms, Westfield and Hammerson, are undertaking a joint £1bn scheme to redevelop Croydon’s town shopping centre for which they have already been granted a planning permission by the Borough of Croydon.
The support for the scheme was received at a special meeting of the Strategic Planning Committee, dedicated specifically to Partnership’s proposal.
According to the current plans, the existing Croydon town centre will be redeveloped into a 1.5m sq ft state-of-the-art retail, leisure and restaurant destination, together with new public realm, new car parking and up to 600 new residential units including affordable housing.
The regeneration of the town centre is part of the Partnership’s wider 2m sq ft vision for the scheme, including the adjacent Centrale shopping centre, which has planning consent for a renovation programme.
The project incorporates improvements to existing public areas adjacent to the development such as North End, Poplar Walk, Wellesley Road and George Street together with new road junctions to relieve traffic flow at Wellesley Road and Park Lane.
The scheme will also contribute over £30m towards local transport improvements, employment and training benefits. There will be many employment opportunities available for Croydon’s local population, particularly its youth, to ensure that they can benefit from the development.
The major parts of the £30m contributions are:
· £15m for the tram network
· £10m for the bus network
· £2.5m for local highways
· £1.625m for sustainable transport initiatives
· £1.3m for employment and training initiatives
Following the Council’s decision to grant outline planning consent, the scheme’s planning application will now be considered by The Mayor of London, Boris Johnson. Detailed designs for the scheme will be revealed in 2014 and the construction works are expected to begin by 2015.
John Burton, Director of Development of Westfield, commented: 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.”
Peter Cole, Chief Investment Officer of Hammerson, added: “Our scheme will re-establish Croydon as the retail destination of South London which will attract further investment and development. Tonight’s decision brings that vision one step closer to reality.”
Photo: Croydon Advertiser
