CROYDON AN INTERNATIONAL BUSINESS DESTINATION Contents 01 CROYDON LONDON 02 CONNECTED 03 COMPETITIVE 04 CAPACITY 05 CAPABILITIES 06 CLUSTERS 07 CULTURE AND LIFESTYLE 08 COMMUNITY CROYDON | AN INTERNATIONAL BUSINESS DESTINATION CROYDON IS LONDON’S GROWTH 01 CROYDON LONDON BOROUGH, A STRATEGIC CENTRE IN THE LONDON PLAN, AND IS CROYDON IS UNDERGOING A £5.25 BILLION ATTRACTING LEADING COMPANIES TO REGENERATION INITIATIVE CREATING: AN INTERNATIONAL BUSINESS DESTINATION LOCATE THEIR HEADQUARTERS HERE. WHETHER A MAJOR INTERNATIONAL BUSINESS OR AN EXCITING NEW START UP, THERE HAS NEVER BEEN A BETTER TIME TO LOCATE IN CROYDON.. 2.8 MILLION FT2 WESTFIELD & HAMMERSON’S Croydon is undergoing an exciting transformation, and is well on its way to becoming NEW GRADE A a modern European city. It has amazing transport links to Central London, Gatwick, STATE-OF-THE-ART RETAIL OFFICE SPACE AND LEISURE DESTINATION Heathrow, the M25 and South Coast; affordable homes to buy and rent; and new cafes and restaurants to cater for a new generation of residents. Croydon is London’s Growth Borough, a strategic centre in the London Plan, and is attracting leading companies to locate their headquarters here. Massive investment including the development by Westfield, one of Europe’s largest retail and leisure destinations, will see more than 23,000 new jobs created and 10,500 new homes started over the next 5 years. 21 CITY CENTRE 14 CONSENTED 28 NEW PUBLIC DEVELOPMENT OPPORTUNITIES SCHEMES SQUARES & SPACES KEY FEATURES: • According to latest research, Croydon has the UK’s fastest growing economy with annual GVA growth of 9.3%. • Croydon benefits from outstanding transport connections, with London Victoria, London Bridge, the City, and Gatwick Airport within 15 minutes by rail. A NEW WORLD-CLASS 10,500 NEW 7 NEW TRAIN STATION • Located 11 miles south of Central London, Croydon is currently home to 14,000 HOME STARTS HOTELS businesses. • Croydon is the single largest office market outside Central London with 7.9 million ft² of office stock, and is home to a number of international business clusters including Financial Services, Insurance, Engineering, Digital & Tech, and Government. A REVITALISED AND VIBRANT CITY CENTRE ENVIRONMENT 01 CROYDON LONDON CROYDON LONDON 01 CROYDON LONDON A METROPOLITAN A NEW HOUSING CENTRE COMMERCIAL DISTRICT CROYDON OFFERS SOME OF THE CAPACITY FOR UP TO 2.8MILLION FT2 GRADE A CAPITAL’S MOST AFFORDABLE HOUSING OFFICE SPACE AND 7 NEW HOTELS 9.3% 7.9 MILLION FT2 2.8 MILLION FT2 ANNUAL GVA GROWTH OF OFFICE STOCK NEW GRADE A OFFICE SPACE CROYDON HAS UK’S FASTEST CROYDON HAS THE LARGEST OFFICE UNDER DEVELOPMENT GROWING ECONOMY MARKET OUTSIDE CENTRAL LONDON 95 21 PRIMARY SECONDARY 23,594 5,097 SCHOOLS SCHOOLS NEW JOBS JOBS IN THE 379,000 CONSTRUCTION PHASE RESIDENTS IN CROYDON £26.50 P/FT2 (2015) – THE LARGEST £5.25 BILLION £365,479 BOROUGH IN LONDON REGENERATION PROGRAMME PRIME GRADE A AVERAGE HOUSE OFFICE SPACE PRICE IN CROYDON 3 84% 8,359 £320M FURTHER OF CROYDON’S NEW HOMES IN THE SCHOOL INVESTMENT EDUCATION SCHOOLS OPPORTUNITY AREA BY 2031 PROGRAMME COLLEGES RATED EITHER ‘OUTSTANDING’ OR ‘GOOD’ 01 CROYDON LONDON CROYDON LONDON 01 TRANSPORT 16 MINUTES TO LONDON VICTORIA 288 trains per day travelling from East Croydon TRANSPORT to London Victoria 27 MILLION PASSENGERS 13 MINUTES TO LONDON BRIDGE a year at East Croydon Station 312 trains per day travelling from East Croydon to London Bridge SERVICES EVERY 5 MINUTES 9 MINUTES TO CLAPHAM JUNCTION 312 trains per day travelling from East Croydon TRAMLINK PROVIDES EAST-WEST LINKS to Clapham Junction from Beckenham to Wimbledon 14 MINUTES TO GATWICK 31 MINUTES FROM WEST CROYDON 324 trains per day travelling from Gatwick Airport TO CANARY WHARF to East Croydon 39 MINUTES TO BRIGHTON 144 trains per day travelling from Brighton to East Croydon 01 CROYDON OVERVIEW CROYDON LONDON 01 CROYDON TECH CITY A LONDON TECH HUB 58% GROWTH CROYDON IS LONDON’S FASTEST GROWING TECH CLUSTER 1,630 3,705 TECH BUSINESSES TECH EMPLOYEES 1,875 5,000 1,750 BUSINESSES IN EMPLOYEES IN THE EMPLOYEES IN THE TMT SECTOR WIDER BOROUGH TOWN CENTRE M1 LUTON 60 MINS M25 02 M11 STANDSTED CONNECTED 71MINS OUTSTANDING TRANSPORT CONNECTIONS BE AT THE HEART OF THE ACTION EAST CROYDON TO: JUST 15 MINUTES TO CENTRAL LONDON AND INTERNATIONAL TRANSPORT HUBS LONDON BRIDGE 13 MINUTES KINGS CROSS Croydon’s outstanding transport connections open up a comprehensive ST.PANCRASS INTERNATIONAL SHENFIELD range of commuter, national and international transport options for 31 MINS your clients, your staff and your business – without compromising EUSTON 40 MINS CITY AIRPORT connectivity with central London. VICTORIA 31 MINS 16 MINUTES MAIDENHEAD VICTORIA CANARY 16 MINS WHARF 33 MINS M4 LONDON HEATHROW BRIDGE AIRPORT CLAPHAM 13 MINS LONDON GATWICK 43 MINS JUNCTION OVERGROUND 9 MINS LINE 14 MINUTES WIMBLEDON 30 SERVICES 11 SERVICES TRAM LIN AN HOUR TO AN HOUR TO M3 K CENTRAL LONDON GATWICK BRIGHTON EAST CROYDON 39 MINUTES CROYDON TRAMLINK PROVIDES WEST CROYDON TO: EAST.WEST LINKS FROM BECKENHAM TO WIMBLEDON CANARY WHARF GATWICK 33 MINUTES 14 MINS M23 03 COMPETITIVE OFFICE COSTS CROYDON OFFERS GRADE A OFFICE SPACE 15 MINUTES FROM CENTRAL LONDON FOR 1/5 THE COSTS. PREMIUM DOESN’T NEED TO BE EXPENSIVE Croydon has 7.9 million ft² commercial floorspace – the largest business hub outside the West End, the City, and Canary Wharf. Over 20% has been refurbished in the past 10 years and another 2.8 million ft² Grade A space is in the pipeline, providing accommodation formats and options for all occupiers. EDINBURGH £32.50 GLASGOW £30 VICTORIA £80 FARRINGDON £70 EXCEPTIONAL VALUE FOR MONEY EALING £36 CITY £75 CANARY WHARF £45 WESTEND £125 MANCHESTER £35 LEEDS £28 HEATHROW £33.50 HAMMERMITH £59 VAUXHALL BIRMINGHAM £32.50 £50 2 RICHMOND £26.50 P/FT £53.50 CROYDON £26.50 THE AVERAGE RENT PER SQUARE FOOT OF RUSKIN SQUARE 2 2 GRADE A OFFICE SPACE IN CROYDON 180,000 FT LET TO HMRC AT £35P/FT READING £34 WIMBLEDON £46.50 EDINBURGH £32.50 GLASGOW £30 VICTORIA £80 EDINBURGH £32.50 FARRINGDON £70 EALING £36 CITY £75 CANARY WHARF £45 GLASGOW £30 CROYDONVICTORIA £80 £26.50 FARRINGDON £70 EALING £36 WESTEND £125 MANCHESTER £35 CITY £75 CANARY WHARF £45 LEEDS £28 HEATHROW £33.50WESTEND £125 2 MANCHESTER £35 HAMMERMITH £59 Average office rent Office take up in Croydon (117,000 ft ) The rateable value for office LEEDS £28 HEATHROW £33.50 VAUXHALL in Croydon is 1/5 of the cost was greater in Q2 2016 than in other floor space in Croydon BIRMINGHAM £32.50 HAMMERMITH £59 GUILDFORD £32 VAUXHALL £50 BIRMINGHAM £32.50 of the West End (£125.00) core London office locations, including (£10.87) is 60% cheaper than RICHMOND£50 Victoria (109,000 ft2), Fitzrovia (41,000 ft2) the London average (£26.01) RICHMOND £53.50 2 CROYDON £26.50 £53.50 REDHILL/REIGATE £23.50 and Mayfair (92,000 ft ) CROYDON £26.50 READING £34READING £34 WIMBLEDON CRAWLEYWIMBLEDON £26.50 £46.50 £46.50 CROYDON £26.50 CROYDON £26.50 GUILDFORD £32 REDHILL/REIGATE £23.50 GUILDFORD £32 CRAWLEY £26.50 REDHILL/REIGATE £23.50 CRAWLEY £26.50 04 CAPACITY GROWTH ZONE • With support from central government and the GLA, Croydon Council will invest £0.5 billion in infrastructure to support the creation of the Growth Zone in central BUSINESS SUPPORT Croydon. Work is already underway to deliver the Growth Zone and the necessary infrastructure needed, ranging from transport & access improvements, to energy THE CROYDON CONCIERGE PACKAGE PROVIDES needs, community facilities and health provision. A DEDICATED, CUSTOMER FOCUSED BUSINESS ACCOUNT MANAGER TO FACILITATE YOUR SMART CITY RELOCATION & FAST TRACK ANY QUERIES FROM • Digital infrastructure and smart technology are at the heart of growth in Croydon. INITIAL ENQUIRY RIGHT THROUGH TO GETTING • Embarking on the creation of a Smart City, making the best use of technology and DOWN TO BUSINESS. creating the foundations for a forward thinking, sustainable economy. Croydon businesses have a 93% business survival rate, one of the highest • Working with digital infrastructure providers to ensure that we have the right in London, higher also than the regional and national averages. infrastructure to support our economy and the needs of businesses here or wanting to relocate here. TRAVEL & TRANSPORT. • Over £50 million of new public realm schemes planned to create attractive and safe open spaces for the community to enjoy. • Creating huge improvements to Croydon streets, providing significant improvements to people walking and cycling, leading to a healthy and clean environment. CROYDON WORKS • Croydon will be providing safer roads and routes that are attractive to pedestrians and A dedicated free of charge recruitment service for employers/ cyclists, making it one of the most sustainable and ‘liveable’ cities where it is easy to businesses recruiting in Croydon www.croydonworks.co.uk get around by all means of transport. • Many improvements are already in place, with more to come. New buildings will have facilities for cycling as well as cycles for hire in Croydon, along with charging points for electric vehicles and car club vehicles. • Improvements to the tram and bus network are also planned. 04 CAPACITY THE GROWTH ZONE PROGRAMME .. 39 PROJECTS HOW IS IT FINANCED WHAT IS IT TRANSPORT ACCESS SOCIAL INFRASTRUCTURE • A Partnership between Central Government, Croydon Council, the • A Government grant of £7m has been provided to kick start the Greater London Authority and Transport for London to finance and programme and cover short term interest costs. .TRAM BUSES FREIGHT deliver an infrastructure programme at a cost of £492m, which is • The Council will borrow up to £309m to allow the infrastructure • Dingwall Road loop • Additional services Freight Consolidation Centre essential to facilitate growth in Central Croydon.