The developers behind the plans to demolish Matthews Yard have described what they hope the site will become if it goes ahead.

It has been an eventful few weeks for the arts hub in Surrey Street.

First it received a "significant win" by securing an asset of community value listing (ACV). But then just a day after, a planning application was submitted that would, among other things see it torn down and turned it into 55 flats.

Now the Regent Land and Developments have opened up about what exactly its plan is for the site.

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"The team responsible for the redevelopment of the site, are pleased to be able to confirm that, in addition to 55 new homes (with 34 per cent affordable), an enhanced cultural offer will be a key element of ‘Beamhouse Yard’," a spokesman for the company said.

"The new lower ground floor venue, will be run by Croydon’s arts company Hoodoos.

When speaking to the Croydon Guardian about the submission of the planning application, director of Save Matthews Yard, Leoni Descartes, said the proposal would be a "blight" on the community.

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"Another front in the battle to Save Matthews Yard has been opened up," she said.

"On the one hand, we are speaking to financial backers, more reasonable property developers, the GLA and others to try and secure loan finance and prepare a bid to buy the building for more money than has been offered, under the community right to bid.

"On the other, we have had to draw attention to the planning application for demolition and how this may blight the lives of local people and our community in the short, medium and long term."

Regent Land believe otherwise.

The spokesman said rather than being a detriment to the community, it would be an upgrade.

"The Beamhouse will provide over 5,000 ft2 of cultural space, music, comedy arts, theatre and open mike events, along with a café, bar and food offering. Culture and arts at this important location is therefore not only ‘saved’ but hugely boosted," he said.

"With the emergence of Westfield, Fairfield Hall and other major new developments, we have ensured that ‘Beamhouse Yard’ provides a mix of new homes, affordable accommodation, cultural and retail space, to place Surrey Street Market at the heart of the new Croydon town centre."