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The London Borough of Croydon has twin roles both as a suburb of London and as an ambitious Metropolitan Centre. Once a leafy residential area for members of the Victorian middle class, Croydon is peppered with architecture from the era. More recently, a period of construction has seen a spate of highly praised commercial buildings contribute to the evolving personality of the Borough. Steered by the Labour council in the 1990s, a spell of redevelopment saw a transformation of East Croydon station, which is now one of the busiest rail stations in London. <\/p>\n
In total there are three stations \u2013 East, West and South Croydon \u2013 as well as many bus stations and tramlines. The swift 18-minute train journey from East Croydon to London Victoria provides easy access to central London for local residents. Furthermore, work has started on the nine-acre site next to East Croydon station and will be redeveloped with more than 600 new homes, shops and offices \u2013 having been empty for fifteen years. <\/p>\n
The Borough of Croydon is set for major change over the coming years, having secured a \u00a323 million support package from The Mayor of London\u2019s Regeneration Fund and a further \u00a370 million committed to development from the local Council. Notably, two retail giants Hammerson and Westfield are joining up under The Croydon Partnership banner and have announced \u00a31bn of investment to regenerate the existing Whitgift Shopping Centre and described expectations that it would be a “major catalyst for the wider physical and social regeneration” of Croydon. The development has caught interest from high profile retailers such as John Lewis and will include a department store, shops, cinema, and restaurants. Construction will start next year and the target date for opening is 2018. <\/p>\n
As a result of the scale of regeneration, we believe that the London Borough of Croydon will outperform surrounding locations in terms of capital and rental growth. In turn this represents a significant opportunity for our investors who will be able to access properties in Croydon, and other areas undergoing regeneration, on the Property Partner platform.<\/p>\n
Update: as of October 2018, another \u00a3166 million had committed to the regeneration of Croydon town centre, as part of the council’s Growth Zone, a 16-year programme made up of 46 projects and expected to cost a total of \u00a3520m.<\/p>\n
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