The first phase of a major mixed-use development in Croydon has been given the green light.
Approved by the London Borough of Croydon, the major 22-storey residential building marks stage one of developers Stanhope and their partners Schroders masterplan to revitalise the area.
The developers hope the planned changes at Ruskin Square will bring wider regeneration to the area, with the site at the centre of Croydon’s Central Business District regeneration.
Schroders fund director, Ian Mason, said: “Stanhope and Schroders are delighted that the first phase of housing at Ruskin Square has been approved and we intend to get on site shortly to commence preparatory works for construction.”
He also said the firm was eager to ensure Ruskin Square fulfilled its role as Croydon’s Gateway.
Mr Mason said: “With other positive developments in planning and development in the town, this is great news for the regeneration of Croydon.”
In total, the planned two million square foot development will offer around 900,000 sq ft of London office space as well as over 400,000 sq ft of residential space, and 50,000 sq ft of retail space.
Stanhope is a major development company.Â It is currently working on a number of projects including the construction of new offices for BSkyB and the firm also revealed plans last month to turn the BBC Television Centre site into a major mixed-use development.
In total, the firm has more than 25 years worth of experience under its belt and has more than Â£10bn worth of completed projects.
News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.Share: