The project will see the Croydon Partnership, a joint venture between Westfield and developer Hammerson, replace the existing Whitgift Shopping Centre with a brand new 1.5 million square foot development – the third largest shopping centre in London.
The scheme will also comprise cinemas, a bowling alley and up to 600 new homes. It is expected that it will create more than 5,000 permanent jobs, many of which would be for local people.
The Mayor of London has been instrumental in bringing this agreement to fruition. Westfield and Hammerson had been working up separate proposals to redevelop Croydon's Whitgift and Centrale shopping centres respectively but the Mayor brought both parties together to create a joint venture to develop both centres. The Centrale shopping centre already has planning consent for a refurbishment programme.
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The site sits within the Croydon Opportunity Area – one of 33 areas designated by the Mayor with significant capacity for new housing, commercial and other development.
The Croydon Opportunity Area envisages the construction of 10,000 new homes and improvements to key parts of the local transport infrastructure, including East Croydon station. This will create 7,500 jobs.
The Mayor said: "This development will usher in a new era of prosperity for Croydon and help return it to its former glory. Hammerson has an excellent track record and the recent Westfield developments in London created thousands of jobs and attracted millions of visitors, giving others the confidence to invest.
"I am in no doubt that this new development will have a similar positive impact in Croydon and breathe new life and vitality into the town. There is no doubt that Croydon can once again become one of London's most vibrant town centres and a major driver of our economy and this development will bring that aspiration one step closer to reality."
(CD/MH)
