£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

Firms sentenced after four killed in site excavation tragedy

Companies fined £700,000 after disaster in Norfolk
3 days ago

BAM books in £35.5m refurb deal at listed castle

Studley Castle will become hotel owned by Butlin's group
2 days ago

Carillion plans job losses as rail spending cuts bite

Union vows to fight against redundancies as renewal spending falls
3 days ago

Ardmac wins fit-out deal at Kirkstall Forge

Work to start next month on new offices for vehicle leasing specialist
2 days ago

McLaren lands £38m Brighton College sports and science centre

Contractor bags third major deal in five years with college
3 days ago

CITB to sell awarding body

Cskills Awards to have new owners
2 days ago

Balfour to close seven offices in Scotland

All operations north of the border to be directed from one new main office
3 days ago

Cemex drivers call off strike plans

Fear of disruption to site materials deliveries subsides as pay deal struck
3 days ago

Nine firms win places on £225m modular framework

Fusion 21 picks winners for education authorities to use
4 days ago

Winners revealed for LHC modular buildings deal

Big week for offsite as another major framework agreed
3 days ago

Helical bullish about London office market

Developer focuses on London, Manchester and logistics sites
3 days ago

Tarmac poaches director from FM Conway

Surfacing boss Toby Pyper to join Tarmac next month
3 days ago

Private rented sector fund raises £250m

Investors pile-in to new PRS fund looking for stakes in new schemes across the country
3 days ago

Race starts for first £15m Brent Cross infrastructure deal

Roads and utilities work to pave way for £1.4bn shopping centre revamp
3 days ago

Developers scale down plans for Wylfa nuclear plant

Number of construction workers needed falls to 8,500 from 10,000
4 days ago

Facebook snub prompts refurb rethink on Oxford Street

Great Portland Estates considers more extensive revamp at Oxford House
4 days ago

McLaren lands deal to fit-out new home of the FT

Newspaper staff will have a running track on the roof of New Bracken House
5 days ago

Skanska appoints new head of building business

Katy Dowding promoted as contractor unveils management reshuffle
5 days ago

Bid race begins for £20m mega car park

Port of Southampton plans largest car storage facility yet
4 days ago

MVS Group lands mechanical deal at new Spurs stadium

Midlands specialist boosts turnover and opens new North West office
5 days ago

BAM wins £20m Sheffield school

Mercia secondary school will open late next year
5 days ago

Sparks down tools on Skanska Crossrail sites

Electricians "cabin-up" in row over bonus pay and union recognition
5 days ago

Renew pulls out of low pressure gas mains work

Forefront Utilities business to focus on medium pressure replacement schemes
5 days ago

Wonky crane gets Multiplex out of a tight fix

Ingenious crane design at London's tallest tower site
5 days ago

200 Quadrant Construction staff face restructure

L&Q to close Quadrant Construction brand in big shake-up of development activities
5 days ago

Construction to start on £100m Bath resi scheme

Investment fund buys former Bath Press site
5 days ago

Three bosses jailed after fatal roof fall

Court hears how safety measures were ignored to save money
6 days ago

Property firm merges with main contractor

Wigley Building and Development will target projects up to £12m
6 days ago

Go Interiors acquires cladding specialist FGF

Deal creates £65m distribution business
6 days ago

Revamp of world’s first factory trials novel procurement

Derby Silk Mill project to test integrated project insurance
6 days ago

Contractor services