Allders crisis 'has not dampened Westfield's enthusiam for Croydon', says director
THE crisis facing Allders has not dampened retail giant Westfield's enthusiasm for coming to Croydon.
John Burton, Westfield's director of development, said there were obviously concerns about Allders going into administration and one thing Westfield and everyone else would want to see avoided is the store "going dark".
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Westfield's showpiece in Stratford could be improved on in Croydon
That, he believed, made it even more essential that proposals for the redevelopment of the Whitgift Centre went ahead as quickly as possible.
With that in mind, Mr Burton said, its plans for a new centre would be submitted to the council next month with the hope the scheme would get planning permission by the end of the year.
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Westfield is the chosen partner for the redevelopment of the Whitgift Centre's freeholders, the Whitgift Foundation.
It is up against a rival operation involving majority leasehold partners, Royal London Asset Management and the Irish Bank and Centrale shopping centre owner, Hammerson.
Mr Burton remains confident, however, that Westfield's commitment to investing £1 billion in Croydon, at a time when investment cash is in short supply, will eventually win the day.
Mr Burton said: "We have recognised the importance of Croydon for more than ten years and all the ingredients for a major development are there. It is well located and has excellent transport links.
"We did the deal because at the end of the day there is nothing more Croydon about Croydon than the Whitgift Foundation."
But he added: "The Allders situation demands action.
"It means the faster we can get on site, the more reason there will be for the people of Croydon to know something is happening.
"We have to show Croydon what we can do. Let's get on with the planning application and at the same time, in the background, we will be resolving the impasse with the leaseholders."
Comments
by john_a
Friday, June 22 2012, 7:10PM
“But Westfield has not gained control of the Whitgift freehold site as yet, let alone Allders.
Boris the Mayor cannot persuade rival development giant Hammerson to back out of the battle for Whitgift, by offering a "free-run" at somewhere else in London, because doing so would be corruption.
So we are stuck (so far).
Compulsory purchase by Croydon council is now on the cards - but to benefit whom, and for what site?”
by The3rd
Friday, June 22 2012, 12:16PM
“T-minus 20 years to do something and counting......
There will be meetings, more meetings, meetings about meetings, meetings about meetings about meetings before anything is done.”
by DianaFrance
Friday, June 22 2012, 11:25AM
“I know we shouldn't make hasty decisions, but who knows how bad the retail world will be in two years' time? Only developers the size of Westfield will be able to invest in a project like this, and the sooner the better. Minerva failed with their project because they weren't big or brave enough. I don't want to see the town sell out to Westfield, but neither can I face another St George's Walk fiasco in the town centre over the next decade: that wuld kill Croydon stone dead.”
by swsquires1
Friday, June 22 2012, 9:10AM
“Can we just get on with it? They have £1bn to invest and are ready to go. Let's expedite the process and start moving forwards. Oh sorry, I forgot that the council will be involved which means 40 committee meetings and infighting for political reasons.
Guys, if you really care about the borough that you represent press ahead and sort out the largest single investment into Croydon in living memory. Oh yes, think about all the lovely additional business rates you will be able to collect…. Now you are excited aren't you!
Seriously, sort this out please. Croydon 20/20 is 8 years away from resulting in a few new tower blocks of flats. Treat this as number one priority as it could be the biggest boost to Croydon for a very long time.”