Six property developers are vying with Australian retail giant Westfield to redevelop the Whitgift Centre in Croydon.

Westfield were the first to declare an interest in the North End mall, having announced last year it was in discussions with the Whitgift Foundation.

But it transpired leaseholders , Royal London Asset Management and Irish Bank Resolution Corp, formerly Anglo Irish Bank, had not been consulted.

They have drawn up a list of seven potential developers, including Westfield, to undertake redeveloping the site.

Among those believed to be on the list are Hammerson - which owns rival centre Centrale - and Delancey - who have taken over Minerva which owns St George’s Walk and the Allders site.

The developers will present their proposals this week.

The two leaseholders will offer the winning developer a minimum 25 percent share of their joint 200 million pound stake and responsibility for managing the centre. They expect to pick a developer by end-February.

Westfield manages 124 shopping centres globally, including its Stratford City site which is the biggest urban shopping centre in Europe.