CBRE Borough Guide: Croydon
Despite being only 20 minutes by train from central London, Croydon has historically suffered from a poor reputation. However, as London’s population continues to expand and the edges of its epicentre move outwards, areas such as Croydon are being given new life. This is being boosted by a large scale, council-led regeneration of the area; £1 billion has been committed to transforming the economy and rejuvenating the town centre.
Croydon’s favourable transport links and extensive retail provision already draws shoppers from a wide area of south London. But the pool of shoppers will increase in line with the future development. Boxpark Croydon has opened in the Ruskin Square development. The £3m scheme houses 80 independent food & beverage retailers in shipping containers. It has proved a popular addition to the retail mix and enlivened the night-time economy. Croydon’s retail offer will transform dramatically once Hammerson & Westfield’s scheme completes. The state-of-the-art retail led destination will span 1.5 million sq ft and will provide up to 1,000 new homes and 5,000 additional jobs. Construction is due to complete in 2021.
Good to know:
- The borough is being transformed through a large scale regeneration programme, which will include eight new hotels, over two million sq ft of Grade A office space and 8,000 new homes.
- Croydon has had one of the highest rates of house price growth over the past 5 years; 68%.
- With 386,500 residents, the borough of Croydon has the second highest population in London. It is expected to grow by 10% over the next decade.
- The Croydon Aerodrome was built in 1915 as London’s first airport, but was replaced by Heathrow in 1959.