Investment in South-London has become a highly attractive for property developers
After the Mayor of London approved the major development and regeneration project for the Croydon town centre, now be an excellent time to invest and build in the area and reap the benefits of the project.
“More than 500,000 sqm of new shops and restaurants have been planned for Croydon’s town centre.”
A joint venture between Westfield and Hammerson will see the redevelopment of the Whitgift shopping centre. This will see over 7,000 jobs created, rejuvenated public spaces and brand-new, state-of-the-art leisure facilities constructed.
“This development will play a key role in unlocking the borough’s potential and is set to deliver huge economic benefits to residents and businesses in the borough.” Sadiq Khan, Mayor of London 2018
However, this project represents an important and beneficial opportunity for potential property developers.
A New Croydon Means New Development
Westfield has had a profound effect on housing values in the area it opens up its centres. The local housing market benefits massively during a period of substantial investment and rejuvenation plans.
“Average home values have increased by 47% since Westfield’s opened in White City, and property values jumped by 13% in its first year, compared to the London average of 3%.”
Westfield’s has announced that they plan to open their brand new shopping centre in 2023, which gives property developers plenty of time to begin the groundwork of buying and developing properties in and around the area.
There are various development loans and property finance available to you. These types of loans enable you to get development started almost immediately. Areas within Croydon are key development areas and should be secured before it becomes increasingly harder to do so.
We strongly recommend scouting and detailing potential investment and property development opportunities in the area. In a few years time, you might reap the benefits of the Westfield and Hammerson development.