Croydon to be the home of a new mega mall

Croydon looks set to be the home of the UK's biggest shopping centre after two major mall owners reached a joint development deal.

Hammerson, which owns the Brent Cross shopping centre in North London, and Westfield, which owns malls in White City and Stratford, had been involved in a long-running dispute over who would take charge of the project.

But after pressure from London's Mayor Boris Johnson to end the impasse and come to some arrangement, it has been agreed that the latter will build the site while the former will manage it.

The 2.2 million square foot development will be located in Croydon's town centre and is expected to provide a huge boost to the area, creating new jobs and opportunities for local residents and attracting visitors into the area.

It will feature a mixture of retail outlets, leisure facilities, residential accommodation and possibly even hotels and offices.

property to rent in Croydon could become much more attractive once the centre is up and running and landlords could start seeing a lot more demand for their flats and houses.

The so-called mega mall will be built on the site of the Whitgift Centre and the Centrale development, combining the two to create what will not only be the biggest shopping centre in the UK - overtaking the Metro Centre in Gateshead - but also one of the largest in Europe.

Commenting on the agreement, Boris Johnson said: "Croydon has huge potential to return to its former glory as one of London's most vibrant town centres, and a major driver of its economy.

"Westfield and Hammerson's innovative developments have breathed new life into long neglected corners of cities across the country, creating thousands of jobs and delivering growth that will soon be repeated in South London."

It is hoped that planning consent for the development will be obtained at some point this year, allowing construction to begin in 2015.

Posted by Chris Price
 

Published 21st January, 2013

© 2013 Estates IT Limited