Unibail-Rodamco-Westfield (URW) has acquired the remaining 50% stake in the Croydon Partnership from Hammerson, which includes the Whitgift and Centrale shopping centres, along with high street retail frontage, office blocks and multi-storey car parks in the heart of the designated GLA Opportunity Area in South London.
Jean-Marie Tritant, CEO of Unibail-Rodamco-Westfield, expressed enthusiasm for the acquisition, saying, “Urban regeneration projects are at the heart of URW’s purpose to create sustainable places that reinvent being together, and we are very excited about what can be achieved in Croydon. With our full ownership of the property, it allows URW to work in partnership with the Mayor of Croydon, the Greater London Authority and other vital local stakeholders on a vision and options that support the wider transformation of the area.”
The mayor of Croydon, Jason Perry, welcomed the agreement as an important step in progressing the regeneration of Croydon town centre, which remains a top priority for him. “We look forward to working with them as they develop a new masterplan in 2023, which will inform a new, revised application for the town centre that will meet the future needs of our community,” he said.
URW’s acquisition of the Croydon project is in line with the group’s strategy of unlocking mixed-use development opportunities in its portfolio and builds on the success of its transformational UK regeneration projects in both White City and Stratford.
