Croydon redevelopment

Boris Johnson has announced Croydon town centre and its economy are set to be transformed with £1 billion of investment

Croydon future 'secured'

Mayor Boris Johnson has announced a £1bn investment into the Croydon town centre and its economy.

International retail developers Westfield and Hammerson plc - who had been working up separate proposals to redevelop Croydon’s Whitgift and Centrale shopping centres respectively - have agreed to enter into a 50/50 joint venture and will now develop the centres together.

Croydon redevelopment
Croydon redevelopment

£1bn investment for Croydon

Whitgift shopping centre in Croydon
Whitgift shopping centre in Croydon Credit: Press Association

Mayor Boris Johnson has announced that Croydon town centre and its economy are set to be transformed with £1 billion worth of investment.

International retail developers Westfield and Hammerson plc, who had been working up separate proposals to develop Croydon's Whitgift and Centrale shopping centres respectively, have agreed to enter into a 50/50 joint venture and will now develop the centres together.

It's expected the proposals for Croydon will support thousands of jobs during the construction phase and add a further 5,000 long term jobs after completion. Mr Johnson says it'll provide a massive boost to the local economy as well as attract thousands of new visitors.

The news follows the Mayor's committment in 2011 to invest £23 million towards the rejuvenation of Croydon town centre following the August riots. Croydon is also receiving investment from the Mayor's £50 million Outer London Fund designed to grow economic activity and drive employment.

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