Property developers Unibail-Rodamco-Westfield and Hammerson have put plans to build a new shopping centre in Croydon on hold again.
Westfield said the scheme was among €3.2bn (£2.66bn) of projects removed from its pipeline because they “require major redefinition, are significantly postponed due to market or administrative circumstances, or no longer meet the group’s return requirements”.
However, in a joint statement with Hammerson, it said it was “confident in Croydon as a destination and its potential for mixed-use development”.
It comes after independents in Croydon told Drapers last year that the long-delayed Westfield development will be “too little too late” to save the town, which has become a retail graveyard.
In 2012, property developers Westfield and Hammerson revealed £1.4bn plans to redevelop the Whitgift Centre shopping mall and other ageing retail units in Croydon town centre, under the name Croydon Partnership.
In September 2019, the council took possession of the former Allders department store and the building underwent a full health and safety audit. The Croydon Partnership did not reveal how long the review would take, or offer a new date for construction to begin.