£1bn Croydon shopping centre start pushed back to 2017

Aaron Morby 6 months 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

Administrators at HOC swamped by creditor claims

Angry suppliers and staff to vent their rage at creditors' meeting next month
12 hours ago

Wates wins £30m Cumbria campus

Designs now being worked up for Campus Whitehaven scheme
6 hours ago

Government dithers over Hinkley Point decision

Ministers want to "consider carefully" over £18bn scheme despite funding agreement by EDF
22 hours ago

Clugston starts hunt for new chief executive

Stephen Martin leaving after 10 years to become director general at the Institute of Directors
11 hours ago

Alun Griffiths gets go-ahead for £14.5m roundabout upgrade

Funding agreed to ease congestion in Gloucester
12 hours ago

Gary Neville unveils twin towers plan for Manchester

Far East backing could see work start on £200m site next year
1 day ago

Ban for labour supply boss over VAT swindle

Kent labour agency director banned for seven years after cheating HMRC out of £350,000
12 hours ago

HMRC smashes £6.9m construction tax fraud

Payroll and labour supply bosses kept tax deducted from workers on major sites
2 days ago

Bid race starts for £400m public health science hub

Bidders day to be held in September for major new Harlow research HQ
1 day ago

QS shortage still holding back construction

RICS survey shows rate of growth slowing as funding fears rise
1 day ago

Balfour plan for 922-home Surrey estate approved

Work expected to start in 2017 on Shearwater estate regeneration
1 day ago

Countryside sales up after post-Brexit cancellation blip

Cancelled homes now reselling at higher prices
2 days ago

Worker killed as platform hits overhead power line

Court hears supervisor electrocuted when platform hit live cable
2 days ago

Go-ahead for £344m London City Airport expansion

Work to create 500 construction jobs on terminal and taxiway upgrade
2 days ago

Arsonists strike at road works site in Surrey

Vandals burn out an excavator and dumper
2 days ago

Workers sent home from Cardy Construction sites

£63m turnover Kent contractor files notice of intent to appoint administrator
3 days ago

Taylor Wimpey reports “business as usual” post Brexit vote

House builder reports "normal" trading patterns after month of analysis in wake of referendum
3 days ago

Drug giant GSK unveils £275m of new construction plans

Major investment plans at trio of sites: Full details
2 days ago

Former finance chiefs at failed Connaught struck off

Stephen Hill and David Wells barred from accountancy profession
3 days ago

Civils contractors warn growth has “ground to a halt”

Government urged to restart boom with infrastructure investment plans
2 days ago

Competition watchdog clears Breedon takeover of Hope

Deal completes on Monday to create largest independent construction materials group
2 days ago

B&K wins Coventry airport £50m warehouse deal

Builder to start in August on three warehouses at Imperial Park distribution hub
3 days ago

Student digs giant Unite commits to £675m pipeline

Student accommodation construction boom continues as Unite eyes London market for bargains
4 days ago

US investor snaps up Morrison Utility Services

£600m turnover contractor bought by investor First Reserve
3 days ago

Lindner wins £25.4m cladding package at Principal Place

Facade work to start on 50-storey resi tower in City of London next year
3 days ago

Go-ahead for Portsmouth prison-to-homes job

Developer City & Country to create 230 homes at HMP Kingston site
3 days ago

£60m expansion plan for Manchester biomedical hub

Construction to start next Spring on latest phase of Citylabs scheme
4 days ago

Labourer crushed under three tonne road roller

Machine slides down steep bank and pins worker beneath it
3 days ago

Arup to work on 21-storey resi tower made of wood

Construction to start next year on world's tallest wooden resi tower in Amsterdam
3 days ago

CITB to fund “Robots for Roofing” research

Drone flying programme one of beneficiaries of latest CITB funding round
4 days ago