Buy buy buy! Global investors urged to invest in Croydon
8:00am Wednesday 20th March 2013 in News
Investors have been urged to take advantage of Croydon’s "irresistible offer" at an international trade convention last week.
The Develop Croydon consortium took centre stage at the MIPIM trade exhibition in Cannes for a debate called Croydon Delivering Change.
The delegation also had a stand in the London tent at the exhibition where, Mayor of London Boris Johnson paid a visit.
Mike Kiely, Croydon Council’s head of planning and building control, told the audience that through various developments, the borough was a fertile place for investment.
He also said that investors should follow in the footsteps of Hammerson and Westfield.
Mr Kiely said: “We’ve had two giants of retail, Westfield and Hammerson, looking to invest in Croydon and they have found it an absolutely irresistible offer.
“They are now in a civil partnership and working very hard with us to develop first-class retail in Croydon.”
Peter Cole, chief investment officer for Hammerson, said his company had recognised Croydon’s potential for 15 years.
Mr Cole said: “There will be massive growth in Croydon over the next decade, both in terms of sales and population, which is why Westfield and ourselves are going into partnership and why we are planning to spend £1bn.”
This is the third year that private sector developers and other related businesses have come together under the Develop Croydon banner in an attempt to secure new investment at MIPIM.