Yesterday it was announced that Westfield and Hammerson’s proposed £1bn redevelopment of Croydon’s town centre has been approved, in a move that will help to put the town back on the retail map.
The redevelopment of the existing Whitgift Centre has received planning permission from the London Borough of Corydon’s Strategic Planning Committee and paves the way for The Croydon Partnership’s 1.5 million sq ft centre, which will create 5,000 new jobs. The approval forms part of the Partnership’s 2 million sq ft plan to rejuvenate the town centre, including the adjacent Centrale shopping centre, which has planning consent for a refurbishment programme. The scheme also entails £30m for local transport improvements and training benefits
This is great news for Croydon town centre, which is in need of regeneration, and also for fashion retailers looking for key retail locations in an already overcrowded London market, which with the exception of Westfield Stratford and out-of-town retail parks such as the London Designer Outlet, hasn’t seen a great deal of new space be developed in recent years.
Of course the scheme isn’t out of the woods just yet and will now go to the Mayor of London for consideration. The Partnership has said that details of the scheme would be unveiled next year with a view to begin work as early as 2015.
The redevelopment could indeed help to reestablish Croydon as a retail destination in its own right and will no doubt attract a great deal of interest. Watch this space for a green light for the scheme.