£1bn Croydon shopping centre start pushed back to 2017

Aaron Morby 1 year ago
Share

Developer Hammerson has put back until next year the construction start on its £1bn scheme to redevelop Croydon’s Whitgift shopping centre.

31-cr-whitgift-quarter-2
Hammerson is in ongoing talks with anchor tenants for the new shopping centre

The project is one of three major schemes Hammerson plans to start in 2017 with a combined construction cost of up to £1.4bn.

Unveiling pretax profits up 4% at £730m this morning, the specialist shopping centre developer said delays in planning and ongoing discussions with tenants meant the Croydon scheme would now start construction in 2017 rather than this year.

It is the second time the developer in joint venture with Westfield has pushed the ambitious scheme back a year.

“Given the extended planning process and discussions with a number of potential anchor tenants, the scheme timetable has been revised,” confirmed Hammerson this morning.

“Works are now expected to start in 2017 with potential completion in 2020/21.”

The joint venture developers 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.

David Atkins, chief executive of Hammerson, said: “Looking ahead, while we recognise the global economic and political uncertainties, we remain confident that the business will continue to deliver sustainable, attractive returns.”

He also confirmed that Hammerson in joint venture with Ballymore is also hoping to start its £800m Goodsyard scheme on the London City fringe in Shoreditch next year.

Last September, the Mayor of London called in the 2.8m sq ft mixed-use development due to non-determination by local planning authorities Hackney and Tower Hamlets.

Bishopsgate-Goodsyard-PL-credit-Hammerson-and-Ballymore

Goodsyard plan includes a 220,000 sq ft retail ‘village’, 1,350 flats and substantial public realm including a new park.

The developer said it was now working to achieve the planning consent by Spring 2016 enabling a potential start on-site in 2017.

It is also hoping to start the 1m sq ft Brent Cross shopping centre extension and refurbishment next year, subject to CPO power being granted for development land at an inquiry in May.

Brent Cross Cricklewood

If all goes to plan the revamped Brent Cross sopping centre could open in 2021

 

Latest news

Alandale Rail bosses jailed for Thameslink corruption

Four men jailed and Alandale Rail fined £25,000 over fraud and bribes at Farringdon station project
14 hours ago

Demolition firms lead way with virtual smart cards

Skills cards can now be stored on smartphones
6 hours ago

Legal row hits stalled £200m Liverpool Chinatown

Council and developer in war of words over flagship scheme
14 hours ago

Skanska confirms £142m Tin Pan Alley contract

Skanska signs off contract for London Giles Circus mixed-use development
14 hours ago

Deal to start £65m Sussex shopping centre

Pre-sale and lease deals trigger Burgess Hill town centre revamp
14 hours ago

Jacobs in merger talks with CH2M

Merger would create global engineering giant to rival AECOM
15 hours ago

Race on for £240m Leicester construction framework

Four-year framework to deliver schools and city centre redevelopment plan
15 hours ago

Final week to vote for best companies in construction

Laing O'Rourke and Cemex are latest sponsors to support the Enquirer awards
15 hours ago

Plans in for £400m Kent housing scheme

Medway's 1,400-home Rochester Riverside plan submitted
3 days ago

Hotel contract row forces Primus into CVA

Contractor set up by former Multiplex boss Martin Tidd faces cash flow crisis
4 days ago

Manchester’s tallest building set for green light

Allied London's most ambitious scheme so far set for approval
4 days ago

Morgan Sindall hunts top talent at virtual jobs fair

Construction & Infrastructure division takes careers event online to boost diversity
4 days ago

Landmark VAT ruling on student rooms projects

Tax tribunal overturns HMRC’s VAT policy on student accommodation
4 days ago

Grenfell cladding fire test verdict due next week

Government slashes estimate of residential blocks at risk from 600 to 208
4 days ago

£100m East Riding prison gets green light

Category C jail to be built next to HMP Full Sutton, near York
4 days ago

GSK scraps £350m Cumbria pharma plan

Pharma giant will invest extra £140m existing facility expansion
4 days ago

Specialists land first trade packages at huge Berkeley site

Main construction starts on 88-acre Southall Waterside site
4 days ago

Electrification plans scrapped on three major rail routes

Contracts worth millions axed as Government switches focus to new train technology
4 days ago

Project delays dent Clugston results

Contractor confident about future prospects following a "challenging" year
4 days ago

UK drags Skanska Europe into £40m loss

Skanska chief aims to cut operational costs and tighten risk management
5 days ago

McLaren set to bag £45m Lakeside extension

Contractor beats off McAlpine, ISG and Sisk to take Essex retail deal
5 days ago

Demand grows for immediate revamp of building regs

Local council chief attacks BRE, contractors and manufacturers for not sharing previous fire test results
5 days ago

Canary Wharf Contractors pays £11,000 tax on £70m profit

Company offsets £13.9m Corporation Tax bill against losses at other group divisions
5 days ago

Mount Anvil plans 1,000 flats in London Royal Docks

Deal with London ExCel centre paves way to build block of apartments
5 days ago

Consultant RLB stages mass raid on Mace managers

Five senior figures jump ship to join rival
5 days ago

Ministers reject client levy option in Farmer Review

Government backs most calls for reform but stops short of 0.5% charge on clients
5 days ago

Construction and fit out boost profits at Morgan Sindall

Contractor bucks recent sector trend by telling City to expect higher than predicted profits
6 days ago

Lendlease ordered to pay £14.8m for city tower falling glass

Cladding contractor to pick up bill after 15-foot glass pane fell from 17th floor
6 days ago

Civil engineers act to avert Grenfell-style disasters

ICE launches review of lessons from tower tragedy to avoid infrastructure failures
6 days ago

Man killed in derelict church collapse

Tragedy at Cardiff site where old church was being demolished
6 days ago

Contractor services