Croydon london Investment prospectus Croydon london 2 CGI: Croydon Metropolitan Centre So many compelling reasons to invest in Croydon… Just 16 minutes to Central London – every five minutes Only 14 minutes to Gatwick International Airport Competitive, low operating costs A richly diverse retail and restaurant offer A talented workforce with skills and education above the national average Delivery of large-scale infrastructure projects is already underway ...Croydon is very much ready for business 3 Croydon london The best connections in south-east England It’s the most connected urban centre in south-east England. Fast and frequent transport links connect Croydon to the capital, the coast, the countryside, and the airports. Croydon enjoys a prime location - just 10 miles south of Central London, but bordering the North Downs, one of the most-loved rural landscapes in England. Croydon’s superb transport links to key destinations in London and the South East make it a thriving commercial and retail hub. Rail links between East Croydon and Central London are fast – only 16 minutes to London Victoria; 12 minutes to London Bridge. Gatwick International Airport is just 14 minutes away. There are more than 10 direct trains an hour between East Croydon and London Victoria, London Kings Cross and London Bridge. There are eight trains every hour to Gatwick Airport and Brighton. “Our Croydon office plays a pivotal role as we continue our work in and around London and the South-East. Being located right next to East Croydon station means all 180 of our Croydon based staff can commute to and from the office using the area’s efficient public transport.” Dr. Ben Dunlop, Rail Solutions Director – East, Atkins 4 Luton Airport 64 Stratford 37 King’s Cross & St Pancras 31 Liverpool Street 24 Waterloo 20 Canary Wharf 26 Paddington 39 City Airport 42 Heathrow 62 Victoria 16 London Bridge 12 Clapham Junction 9 CRoYdon Redhill 20 Gatwick 14 East Grinstead 26 Crawley 24 Brighton 33 Uniquely, Croydon integrates all modes of public transport Travel time in minutes from Croydon - rail, tube, bus and tram. Tramlink is the UK’s largest tram •Source: www.tfl.gov.uk network, carrying 28 million passengers, while East Croydon is the UK’s second-busiest rail interchange. Croydon can be reached using Transport for London’s popular Oyster card, which allows cost-effective and easy travel. luTon STAnSTEd GREATER LONDON CITY HEATHRoW CRoYdon GATWICK strategic location 5 Croydon london Delivery of large-scale infrastructure projects is already underway Vital funding is bringing plans to life. Construction work is already underway on many development projects in one of the uK’s biggest and most exciting town centre regeneration programmes. Croydon is undergoing massive change The Croydon Council urban Five masterplans are now knitted together into a single Regeneration Vehicle (CCuRV) dynamic vision, making Croydon a genuine market opportunity for investment. • An innovative public-private joint venture Seven sites are already under construction in the town investment vehicle formed by Croydon Council centre; a further 13 sites have planning approval; 12 more and John Laing are in pre-planning. Over five million sq ft of development • Delivering £450m of regeneration on four key is proposed, including thousands of new homes. sites in Croydon’s town centre And thanks to a unique partnership between the Council • An efficient vehicle to advance existing and emerging and developers, regeneration is happening despite development opportunities, with a strategic influence the recession. to maximise regeneration benefits. East Croydon station – Saffron Square, Berkeley new bridge & upgraded Homes – 754 residential concourse – under units under construction 2012 construction 2013 ‘legible london’ 6 new trams on Wellesley Road – 2 new pedestrian wayfinding network - 25% surface level crossings system in Croydon’s increase in capacity connecting stations to town centre core retail area 6 Funding from the Mayor of london Coast to Capital – our first local The Mayor of London has announced a £23m Enterprise Partnership (lEP) regeneration fund for Croydon. £18m of this is intended to transform the public realm Croydon Council is working jointly with Surrey in and around the town centre, including: County Council, West Sussex County Council, • Better signposting and a better welcome on Brighton and Hove Council and the Gatwick entering central Croydon Diamond to capitalise on the major business centres • Improving shop fronts and bringing in new retailers of Gatwick, Brighton and Croydon - an area with a business community of 79,000 firms and some • ‘Connected Croydon’ making it easier to travel 721,000 jobs. between key destinations in the centre. Coast to Capital has two top priorities: Funding available directly to investors • Increase significantly the number of firms that £5m of the regeneration fund is earmarked for trade internationally business support. • Increase the levels of enterprise and business Croydon has proposed a twofold approach in order to formation. stimulate the business base: Croydon is also contributing to the development • Funding for commercial property owners of the London-wide LEP. to refurbish office buildings and improve environmental performance • Incentives for businesses to locate within designated zones. “Croydon has provided us with the In addition, developers can apply for loans through advantage of a being within a vibrant the Growing Places fund. This is administered by the insurance market. Croydon has Coast to Capital LEP to kick-start stalled schemes. excellent transport links to London Additional business support and the whole of the South, in Using European funding, Croydon Council provides particular the City which allows us many business support programmes to: improve supply to gain more access to our key broker chain and procurement, to increase the contracts partners, further cementing existing won locally; establish trade links and export routes; relationships and forging new ones.” obtain business finance to pursue growth plans; and reduce energy waste by improved environmental James Roberts, Head Broker Market – performance. South Zurich Insurance Plc upgrade of retail Bernard Weatherill core (north & House (civic offices) South End) complete 2013 2014 2015 2016 2017 East Croydon station – construction of new public square begins West Croydon station – major station upgrade delivery timeline 7 Croydon london A prime office location in London More than 9,000 businesses choose Croydon as their home. Businesses come in all shapes and sizes, but with big commercial offices come big employers. Businesses are here in numbers one of the capital’s most important Many blue-chip organisations locate their office hubs headquarters in Croydon. In particular, Croydon has Croydon has the largest office market in the south-east a large number of leading multinational companies outside central London, with an office stock of 7.9m in the finance, insurance and engineering sectors. sq ft. A diverse range of offices is available to meet The public sector has a significant presence here too. differing occupier requirements, from low budget to the best refurbishments, as well as a consented Over 1,500 different businesses are found in the pipeline of projects. Business Improvement District (BID) alone. The office stock is clustered around East Croydon The low operating base has engendered the loyalty station and West Croydon station, and the roads of key occupiers. In the last eighteen months alone, between them. lease renewals have accounted for one million sq ft of retained office space. Competitive, low office costs Office rents are considerably lower than in central London – about half the cost, or even less Current rents vary from as low as £8 per sq ft up to £22 per sq ft for the best space. Atkins Chartis/AIG Mondial Britiish Rail Residuary Board UKBA Bank of America Network Rail Royal Sun Alliance Mott MacDonald NCP Mercer Liverpool Victoria Carillion Zurich SNC Lavalin Aecom 8 69 Park Lane interior “Our business plan for investing in Croydon is simple: the public transport is excellent, it is part of Greater London, it has a large number of occupiers, it has a proactive and pragmatic local authority, it has huge retail potential and incumbent investors and developers that will make it happen. ” Charles Walford, Director, Stanhope Croydon – a low operating cost base university Centre Croydon With 370,000 people Croydon is the largest London borough by population. Around three million people Croydon College is about to become known live within 10 miles. Wages are lower than in central as University Centre Croydon, building on its London but so too are other costs - the average partnership with the University of Sussex (one of house price is around £258,000 while an apartment the top ten universities in the UK). is typically £162,000. It’s a huge step forward for Croydon, meaning Croydon provides rapid access to the UK’s capital – local people can gain top-quality higher- but without the high costs of locating centrally. Yet level qualifications, in an increasing range of central London is just 16 minutes away by train. undergraduate and master’s degree courses, validated by the University of Sussex. And in their own town, at affordable fees. Emerald House occupier base 9 Croydon london When it comes to shopping Croydon has got the lot Croydon is one of the leading shopping destinations in the uK, with a bustling High Street, managed shopping centres, and a major out-of-town retail park. It’s london’s biggest shopping experience outside the West End. You won’t find one major shopping centre in Croydon – you’ll find two. Croydon’s prime retail pitch includes The Whitgift Centre and the largest managed shopping centre, Centrale. Hammerson has recently invested £100m in Centrale, and has a further £60m planned. There is also a planned refurbishment of the Whitgift Centre. The modern town centre is vibrant and bustling. It’s complemented by Purley Way, London’s eighth- largest single retail park on the edge of town, featuring many superstores and a wide range of entertainment and lifestyle activities.