Croydon town centre to be transformed
By FashionUnited
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Croydon town centre is set to be transformed by a 1 billion
pounds investment after retail developers Hammerson and Westfield agreed to enter into a 50/50 joint venture to develop the Whitgift and Centrale shopping centres.Having previously been working separately on proposals with London’s Strategic Planning Authority, they have now agreed to work together on the 1 billion pounds regeneration scheme.
Frank Lowy, chairman of Westfield, said: "The 1 billion pounds redevelopment joint venture with Hammerson will provide certainty for the residents, local businesses and retailers of Croydon and the region. The delivery of a major retail regeneration scheme will re-establish Croydon as South London’s premier shopping district and will be a catalyst to further investment and development in the Croydon borough."
David Atkins, chief executive of Hammerson, added: "We have shown our commitment to Croydon through our existing investments in the town centre and I believe that by working together with Westfield we can deliver a world class scheme for retailers and residents. Both we and Westfield remain excited and convinced by the opportunity in Croydon, which we can now progress with clarity."