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Confidence Now Building As Town Attracts Investors Big success Confidence now as cycling building as town elite speed attracts investors PROMINENT investors are across town tapping into Croydon’s potential with a succession of THOUSANDS of people lined the major deals helping to change streets of Croydon as the town hosted the face of the town. a hugely successful round of cycling’s elite team competition on Tuesday, Consultant surveyor Vanessa June 2. Clark (pictured) believes deals such as Hermes Investment The town was the subject of an Management’s purchase of the hour-long highlights package on recently-refurbished Number ITV4 after hosting round three of the One Croydon, one of the town’s women’s Matrix Fitness Grand Prix most iconic buildings, are and round seven of the men’s Pearl “game-changing” in terms of Izumi Tour Series. the way the town is being And the event got people talking perceived. about Croydon in a fresh light as, “The good news is that quality central London what the experts described as a investors now see Croydon as an attractive “hugely-technical” circuit produced a proposition,”she said. “A s confidence in the town thrilling evening’s racing. has improved, so have prices.” Council leader Tony Newman and The so-called 50p Building, designed by Richard Mayor of Croydon Councillor Seifert, changed hands in a reported £36 million Patricia Hay-Justice were among the deal, bringing Hermes’ investment in the town this presentation teams. WHEELS IN MOTION: The cycling tour events held in Croydon earlier this month were hailed as a success year to around £70 million, having already acquired the Grants Entertainment Centre in High Street, which features a 10-screen Vue Cinema, health club, bars and restaurants. Chris Taylor, chief executive of Hermes Real Estate, said the purchases were part of the company’s investment approach to capture the benefits from major urban regeneration Development’s changing programmes in the UK’s key strategic commercial centres. Among its anchor tenants are Atkins Global and Natterbox and two floors of the building were recently let to Sussex Innovation Centre, part of the University of Sussex. hour-by-hour at Ruskin Permitted development deals have significantly reduced what was previously seen as excess of office stock in the town, the latest of which has “Progress on site has been very he skyline next to East included Inspired Asset Management exchanging positive and, with Lendlease now Croydon station is being contracts on a £24 million deal with the Tricos appointed and works now having transformed as lift cores Group of Companies for the 16-storey office block commenced on the first office towering 22 storeys high are Impact House. now at work in Ruskin element, momentum is building. TSquare. Impact intend to convert the block into 188 “Securing Boxpark to enliven the affordable apartments for first-time buyers and With construction on the site well area just next to the main station buy-to-let investors. underway, the structure of Vita –the entrance has been another major first phase of 161 new apartments –is success story for the development Metro Point in Sydenham Road achieved taking shape. and we’re expecting the hive of £14.75 million in a separate deal and increasingly Lendlease has been appointed as activity to continue through the key Central London investors are emerging as the the contractor for the first office summer before the eyes of dominant players in Croydon through the likes of building at Ruskin Square, with commuters watching from the LaSalle Investment Management, M&G, Blackrock, works having now begun on site. THE FUTURE: A CGI prediction on platforms.” CEL and Aviva. how Ruskin Square will look Ultimately, a collective 2million sq Welcomed With Deutsche Bank, Aberdeen Asset, Management, Mayfair Capital, Resolution and ft of commercial premises and 625 Sales and marketing manager CBRE among those apparently circling the new homes on the Ruskin Square site Elliott Stiling said: “The team on site The on-site team recently Croydon market, Mrs Clark added: “We have will create an entire community just has been working hard to get things welcomed Chancellor George suddenly gone from having too much office stock steps away from the mainline railway well underway and the development Osborne who took part in a tour of to a realisation that new quality offices are station. of the 161 new homes is firmly on the site alongside Croydon Central urgently required as Croydon becomes more Revitalise track.” MP Gavin Barwell, during which they met Megan, a plumbing attractive to purchasers. The £500 million Ruskin Square Further activity will shortly take apprentice working with contractors “The demands being placed on the office market scheme is being delivered by place elsewhere on the site with Midgard through their partnership are continuing to increase with a rising list of Schroder UK Real Estate Fund and Boxpark founder Roger Wade having with Croydon College. occupiers –both indigenous and from outlying chosen Croydon as the pop-up areas, as well as those looking for greater value its development partners Stanhope Jason Margrave, development shopping mall for fashion, lifestyle than they currently receive in central London – plc and is designed to revitalise this director for Stanhope plc, said: “It and food brands following the considering a relocation. site at the gateway to Croydon town was a pleasure to welcome the centre. success of the first venture at Shoreditch. Chancellor and Gavin Barwell and to “It’s a whole new ball game for Croydon,” added Places for People, which is the show them how much is changing Mrs Clark. “But we need more quality offices to be PROGRESS: George Osborne visited residential partner for Vita, is James Lass, fund manager of hour-by-hour on the development brought forward in the town if we are to take full the site earlier this year delighted with the progress. Schroder UK Real Estate Fund, said: site.” advantage of this new demand.” croydonadvertiser.co.uk LATEST NEWS OUR TIME IS NOW Tram loop aims to ease congestion and support regeneration ransport for London has published more detailed plans of the proposed new tram loop in Croydon, the next step Tof improvements to the tram network designed to meet increasing passenger demand. The proposed Dingwall Road loop would see the trams routed anticlockwise via Dingwall Road and Lansdowne Road, which was the most popular option following a public consultation IN THE LOOP: The proposed tram extension in November 2014. Views are now sought on these more detailed plans which add important passenger capacity without contributing additional congestion in Croydon town We’re building and managing quality centre. The Dingwall Road loop has been developed closely with homes for people in Croydon Croydon Council, and would support one of the largest town centre regeneration projects in London. NEXT STEP: Tram route to be widened with a Dingwall Road loop Jobs development, said: “The success Subject to the consultation, of the tram network since it funding, and the proposal being The development is expected began 15 years ago is endorsed by the Mayor of to create more than 5,000 outstanding, with passenger London, TfL intend to apply to permanent local job numbers expected to double by the Department for Transport opportunities and deliver 2030. (DfT) for powers to construct and between 400 and 600 new homes, operate the Dingwall Road loop with the number of passengers “To support this growth it is through a Transport and Works using the tram network in the important to plan for the future. Act Order (TWAO) in autumn area expected to double by 2030. The Dingwall Road loop is the 2015. The construction is It is the latest stage in a next step of a series of anticipated to begin in spring Beulah Road Brighton Road long-term strategy to improve improvements that will deliver 2017 and be operational by reliability and increase the tram extra passenger capacity and autumn 2019. › 6 homes for affordable rent › 29 homes for social rent increased reliability to the whole › 5 shared ownership capacity in Croydon by over a The Dingwall Road loop is part Completed February 2015 third, enabling an extra 1,600 of the tram network.” Completed April 2015 of TfL’s future plans for the passengers an hour to travel in A public consultation has been trams which, subject to funding, each direction. held throughout this month includes aspirations to increase Gareth Powell, TfL’s director which will help inform further capacity and extend the network of strategy and service design and planning work. to other parts of south London. New lease of life for old fountain THE disused old fountain in Croydon’s Queen’s Gardens is to be given a temporary new lease of life as a lunchtime Russell Hill Lamberts Place performance space over the summer. › 9 homes for shared ownership › 14 homes for affordable rent › It will also be used as a central Coming August 2016 12 for shared ownership part of the new Ambition Coming March 2017 Festival being staged by Croydon Council from July 23 to 26. The fountain has not worked Wandle is helping to tackle the shortage of We are an experienced developer with a for many years and work is now good quality affordable housing. detailed local knowledge and a track record of under way to level the surface so building outstanding developments. We build Our developments in Croydon provide new it can be used as a temporary homes and communities where people want to homes for the people most in need and those bandstand stage. live. We are looking for partners to deliver more who would otherwise not be able to afford to The gardens, including the new homes in Croydon.
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