Hammerson selected to re-develop Croydon’s Whitgift Centre
Hammerson has been selected as the preferred partner for the management and redevelopment of the Whitgift shopping centre in Croydon.
The firm has been chosen over several other companies which were interested in the developing the south London shopping centre including the Westfield Group.
Lease holders Royal London Asset Management and IBRC Assurance Company said in statement that they had signed an exclusive agreement Hammerson following an independent review of proposals co-ordinated by Jones Lang LaSalle.
Hammerson is already a key stakeholder in Croydon through its ownership of the town’s Centrale shopping centre. RLAM and IBRCAC said the merger of the two interests would increase the potential for public realm improvements and an holistic approach to the regeneration and development of the town centre. They also highlighted Hammerson’s experience in similar projects such as the Bullring in Birmingham and the Highcross centre in Leicester.
Never Miss a Retail Update!The Whitgift Centre currently has approximately 580,000 square feet of retail floor space comprising 154 shop units, department stores and a supermarket. The centre attracts around 28 million shoppers per year.
In a joint statement, RLAM and IBRCAC commented: “The Whitgift Centre lies at the heart of Croydon and its successful redevelopment will be a crucial element in the regeneration of the town itself. This consideration underlined every step of our rigorous process of selecting the best partner for the job.
“The quality of submissions from all parties was very high, although in Hammerson we recognised a partner who could demonstrate a long-term commitment to reasserting Croydon as a centre of retail excellence through a combination of redevelopment and organic growth. Of equal importance, Hammerson possess the necessary resources to complete a project of this scale successfully.”
