London’s biggest borough, just 14 minutes by train from Gatwick International Airport and 12 minutes to the centre of London, Croydon starting to see the impact of GBP5.25bn worth of regeneration investment.
It has the backing of the London Mayor both as the capital’s Opportunity Area and as a Growth Zone and work is due to start in 2017 on the capital’s newest Westfield Shopping Centre in its retail centre.
Katharine Glass, director of Develop Croydon, will visit Hong Kong this week before moving on to Dubai - visiting IP Global's clients to share her insight on why Croydon is on the cusp of transforming into a global investment hotspot. Register to attend her presentation in Hong Kong on 9 November here, or sign up for the Dubai breakfast briefing on 15 November here.
Commenting before her visit, Katharine said: “People still remember the Croydon of five years ago, but it’s a very different place now. Arriving at the station, just 14 minutes from the airport, it looks like a modern European city, with major cultural events, public spaces, trams and everywhere you look there are tower cranes and building sites.
“There is a huge amount of activity underway right now – and with the new London Growth Zone status and the arrival of the new shopping centre – we have seen a real surge of interest. You only need to look at how Westfield has transformed White City and Stratford to understand how retail-led regeneration can drive up an area’s performance.”
Known as ‘the economic powerhouse of the South East’, Croydon is starting to gain press coverage as a rival for Manchester and Birmingham becoming the UK’s newest property hotspot with yields expected to increase substantially in coming years as the impact of the new Westfield, government employment hub and regeneration projects come on line.
Significant investment has arrived in recent years, including the decision by the government to locate its HMRC offices in Croydon’s newly built Ruskin Square. Other companies in the town include: American International Group (AIG ), Liberata, Pegasus, Alliance, Aon, Mott MacDonald, EDF, Liverpool Victoria and AIG.
Croydon's top 10 facts:
- The UK‘s best-connected transport hub – 15 minutes to either central London or Gatwick
- Croydon is in the midst of a GBP5.25bn regeneration programme which will provide: 23,594 new jobs and GBP50m city centre public realm improvement scheme
- London’s newest Westfield Shopping Centre will open its doors here in 2021
- It has the UK’s biggest schools’ investment programme, contains several of the UK’s top private schools (Whitgift, Trinity, Old Palace) and is the 4th highest performing borough in London based on educational achievement
- It is both a London designated Opportunity Area and a Growth Zone
- Croydon is London’s biggest borough by population – and expected to grow by another 15-20% in the next 20 years (source: Future of London)
- Home to 28 of the UK’s top 30 retailers, including Superdry, John Lewis, Debenhams, House of Fraser, Marks & Spencer and IKEA
- 81% of the working-age population is economically active, compared to the London average of 75.5% with 47.1% of the working population employed in managerial, professional and associated professional occupations (above the UK average of 42.9%)
- Green space covers one-third of Croydon and it has no fewer than 127 parks and open spaces leading it to be named ‘the UK’s greenest large city"
- It is home to premier league football club Crystal Palace.
For the latest news updates on Croydon’s regeneration, see www.developcroydon.com