£1bn Croydon shopping centre start pushed back to 2016
Developer Hammerson has put back until next year the construction start on its £1bn scheme to redevelop Croydon’s Whitgift shopping centre.
The project is one of three major schemes Hammerson plans to start before 2017 with a combined construction cost of up to £1.5bn.
This includes its £1bn Brent Cross redevelopment in north west London and the £800m Bishopsgate Goodsyard scheme on the City fringe.
Unveiling pretax profits doubled at £703m this morning, the specialist shopping centre developer said delays in planning and design meant the Croydon scheme would now start construction in 2016 rather than this year.
The massive project is being developed in joint venture with Westfield. Together they plan to redevelop and combine Croydon’s current shopping centres – the Whitgift Centre and Centrale – to create a mixed-use town scheme of around 2m sq ft, which will include retail, leisure and residential with the potential for hotels and offices.
Hammerson also revealed it plans to submit a reserves matters application on the 1m sq ft Brent Cross shopping centre redevelopment later this year. Subject to confirmation of compulsory purchase orders, a start on site is expected in 2017.
The developer said it hopes to get outline planning before the end of the year on itrs Tech City plans at the Goodsyard in Shoreditch.
This 2.8m sq ft mixed-use scheme is being developed in joint venture with Ballymore and will include 200,000 sq ft of retail space, 650,000 sq ft of offices and up to 1,500 homes.
Aaron Morby | Mon 16th February | Construction Enquirer