Nestlé building in Croydon may be converted into housing
NESTLÉ'S headquarters in Croydon is likely to take on a new lease of life as housing after the confectionery giant moves to Gatwick towards the end of the year.
Confirmation that a conversion could be on the cards came this week from Charlie Walker, a director of Legal & General Property.
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Nestle's Park Lane headquarters could become housing
The company bought St George's House in Park Lane in January in a reciprocal deal which saw Nestlé taking a 20-year lease on Legal & General's City Place offices close to Gatwick Airport.
The housing idea would also dovetail with Croydon Council's aspiration's for town centre regeneration, which include providing an extra 7,000-plus homes.
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Mr Walker said Legal & General was waiting for the publication of the mid-Croydon masterplan in a couple of months' time before making any firm commitments to change.
But he said: "Residential is probably a good idea for that part of the town. It is central for public transport and it would be good for the restaurants and shops."
Realistically, Legal & General accepts that it will be difficult finding a new office tenant for a block close to its "sell-by" date.
Mr Walker said finding a new office tenant would be "challenging" for his company.
He added: "I believe a more immediate win for Croydon would see a move towards residential. We are doing preparation work around getting that idea moving."
A conversion would also provide a more immediate win for Legal & General, which is anxious not to be left with an empty block on its hands for any length of time.
Mr Walker said: "We certainly won't be sitting back."
Comments
by SMOGBAD
Friday, June 08 2012, 1:39PM
“It is almost as large and central as the Nestle.The underground car parking spaces are very limited, so that the use of public transport (near hub) was virtually assumed.I understand that public servants,nurses, teachers, policemen were encouraged.All sorts of shops and entertainment are nearby,just as in Croydon....actually much better than the lump of high-rise flats past Lunar house (?meadows).As London is dying from its car based air pollution, a non-commuting,walking distance to work residential base is essential all over.The "necklace of pearls" type is strangled by lack of rail capacity.”
by RecFan
Friday, June 08 2012, 12:43PM
“What do you mean SMOGBAD - do Sutton restrict the number of parking spaces or something, or do you meant the fact that the Nestle building is in a central position in Croydon and parking spaces are at a premium?
They can always demolish the Croydon Council building to provide parking spaces.”
by SMOGBAD
Friday, June 08 2012, 9:29AM
“Sutton's version of this has been excellent...but how will prospective owners cope with the restrictions on car ownership required to make its residential use feasible?”
by RecFan
Thursday, June 07 2012, 7:11PM
“I can see the top floors being converted to luxury penthouses and commanding very good prices. The transport links are excellent and the views will be very impressive. This won't all be social housing. CroydonTown is right, some will be to appease quotas, but, this is more likely to be in the main a private development.
Croydon is on the up!”
by CroydonTown
Thursday, June 07 2012, 6:51PM
“Why do some people believe it will be council flats, there's no way it will be, the building is owned by a private developer, and therefore they will be private apartments (with maybe a few sold of as 'affordable homes' as to meet current planning law) as the developer will want to make money out of the development, not sell it off cheap to a social housing group! If they do turn them into flats then this will no doubt help Croydon's renaissance (not it's decline as some people believe), as the kind of demographic that these types of developments normally attract is those young professionals with disposal incomes, which are the type of people we want to attract into the town centre. There's obviously a market for them in Croydon, as Saffron Square at the end of Wellesley Road (the one currently under construction, not the abondoned site at Newgate) has already sold over 50% of it's flats off plan!”
by The3rd
Wednesday, June 06 2012, 1:30PM
“Ivor - is this the development that has been abandoned for a couple of years? It makes Croydon look like some kind of Spanish ghost town.”
by CuppaTeaPlz
Wednesday, June 06 2012, 12:34AM
“Vertigo comes to mind.”
by DonJones13
Tuesday, June 05 2012, 4:07PM
“Why the hell was my comment removed? I would love to know.
I said that there will be more council tennants around, hence this will BRING CROYDON down further. Simple and not offensive just TRUTH.”
by Ivor_Shed
Tuesday, June 05 2012, 2:41PM
“If no private buyer wants to live in Croydon then the new development at the other end of Wellesley road is going to look a bit sad”
by The3rd
Tuesday, June 05 2012, 1:42PM
“We all know that it will be council flats. No private buyer in their right mind would want to live bang in the middle of central Croydon. This buidling will attract the asbo army and neighbours from hell. Croydon will continue to decline.
I won't be doing my shopping in Croydon anymore, I'll tell you that for free,”