Croydon Ir
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- Words: 3,107
- Pages: 16
Contents
- Summary
3
- Introduction
4
- Location
5
- Site
6
- Local Amenities & Area Analysis
7
- Transport
9
- Regeneration
11
- Comparables
13
- Reference
16
2
Summary Below are our main topics of interest covered in this report. Croydon – ‘London’s 3rd City’, after The Cities of London and Westminster.
Croydon is London’s Largest Borough with a population of over one 3rd of a million people, and a 78% active workforce of 150,000.
Croydon sits less than 11 miles from Big Ben, and only 30 minutes drive to Gatwick International Airport. Only 11 min. journey time from Central London by rail.
By 2010 Croydon will be a part of the London Underground network.
2nd Largest Retail Centre in the UK with the 3rd Largest Dept. Store.
Over 4 billion UK£ is invested in regenerating Croydon through private development and infrastructural modification (£3.5bn already committed). Key Private: (over 1million commercial sq ft) The Croydon Gateway Cherry Orchard Road The Bridge House The Exchange
Key Infrastructural: ThamesLink2000 TfL East London Line Croydon Tramlink expansion SELTRANS
The Bridge House sits at the epicenter of Croydon, enjoying a historical niche of the old town whilst neighbouring all of Croydon’s modern amenities.
Croydon is a long forgotten town that is due its day in the spotlight. The coming years are going to define a new era for London’s most promising Borough and give it all the modern facilities and floor-space it needs to be a serious contender on the London property market. – Now is the time to recognize this opportunity.
3
Introduction Croydon is the largest of London’s 33 boroughs with a population of 342,700, earning it the slogan of London’s 3rd City (following The City of London & The City of Westminster). The Borough of Croydon was formed in 1965, and covers an area of 34 square miles (87km). Today it is the largest office and retail centre in the south east of England after Central London with more than 20,000 businesses trading there, and being just 11 minutes from Central London by rail, and less than 30 minutes from 2 international airports it lies directly in the cross hairs of London’s property starved workforce. With London prices being forced upwards by a surge in international investment, many developers, funding institutions, investors, and occupiers alike are beginning to appreciate the incredible potential that this suburban hub has to offer. Croydon is currently experiencing one of the most dynamic regeneration and growth phases ever witnessed by any city in the UK. At present some £3.5bn has been committed to redeveloping the area, with more in the pipeline bringing its investment programme to £4bn+. This is shared among private developments, infrastructural modification, and local social improvements. This magnitude of investment is expected not only to lift the face of Croydon, but to construct the endoskeleton of entire new city from the foundations of this historical market town.
4
Location Croydon lies directly south of London at 51°20’ North, 0°05’ West. From Big Ben, it is only 10.9 miles straight down the A23, and is almost equidistant to the M25.
It has 3 main train stations (E, S & W) and is serviced by Southeastern, Southern, First Capital Connect, and Virgin Trains.
Croydon is also triangulated by 3 of London’s biggest international airports and lies within surprising proximity to each. City Airport
11.25 miles
Gatwick
15.5 miles
Heathrow
17.25 miles
Due to its southern positioning, Croydon also has very easy access to Brighton, Kent and indeed all that the south coast has to offer.
5
Site The Borough of Croydon itself is quite a vast area (34 sq miles) however the regeneration spending that we refer to is mainly centralized within a 1-mile radius of Croydon town. Within this catchment area lie numerous promising projects, however none more worthy of attention than The Bridge House off High St.
The Bridge House rises on Surrey Street adjacent to the magnificent presence of a Castle and Christian Church, and is complimented by its twin development across the vista at The Exchange. Both developments are the brainchildren of Howard Holdings Limited, however the Bridge House will be constructed using volumetric ‘pods’. This state of the art process is cutting edge in the industry and involves most of the unit fabrication off site so as to minimize on local disruption and environmental impact. Once complete the development will observe Croydon from a 7 storey altitude, and shall have unrivalled pedestrian access to all its local facilities. Park Place, the new Whitgift Centre, The Gateway and East Croydon railway station shall all be within 5 minutes walk, with the areas light rail tram network servicing the northern perimeter of the site. By 2010 The Bridge House shall also be connected to the London Underground East London Line at West Croydon Station, also within a 1-mile reach. When it come to location, The Bridge House enjoys all the modern facilities and amenities of Croydon from its very own doorstep, while simultaneously maintaining the elegance and privacy of its own landscaped courtyard and historical surrounds.
6
Local Amenities Due to its sheer size and population, Croydon has essentially got all the facilities and amenities one would expect from a modern city. It offers a rich artistic heritage as well as providing opportunities for an active and diverse social life. Within the Borough, 17 facilities provide a wide range of sports and recreational activities including 4 swimming pools. The area also boasts 120 parks and managed spaces amidst its 2,600 acres of green space, crowning it the 3rd greenest borough of London. Croydon has two full championship golf courses, seven 8-hole courses, pitch and putt courses and driving ranges. Sailing and canoeing are also available at the South Norwood Country Park. Croydon enjoys 20km of the London Loop and 34km of bridleway for horse riding and cycling. In addition, Crystal Palace National Sports Centre is a relatively near venue for a number of major national and international athletics events, whilst not forgetting that London's vast array of entertainment venues, museums, art galleries and sport facilities are only a short train journey from Croydon. Croydon was dedicated its own cabinet-style council in 2001 and there sits 70 individual councilors, and an employee roll of over 10,000 people. Within the borough lie 156 schools and a main University. Croydon College tutors 14,000 students and employs over 1,400 staff. With a legacy of 100 years and over 250 different courses, it is considered one of the finest learning institutions of Southern England. Croydon also houses numerous hospitals and medical centers including the Royal Marsden and Mayday Hospitals, and the NHS walk-in centre on High St. In addition to these, there is an increasing market for homeopathy and natural medicine in the area with numerous physicians and practitioners listed for multiple medical disciplines. The social scene in Croydon is also on an ever-evolving scale as one cannot help but notice the appearance of more and more London style eateries and bars appearing along George Street and High Street. Establishments vary from traditional pubs to contemporary wine bars, and cuisine caters for everything from café’s and noodle bars to fine evening dining. Shopping and commercial zoning also plays a very important role for any residential development. Fortunate therefore that Croydon has more undercover town centre shopping than anywhere else in the UK (after Central London), with its flagship Allders being the 3rd largest department store after Harrods and Selfridges. It has 7
historically been a market town, and although one can still haggle the price a bag of lemons and a kipper on High Street’s market, it is impossible to ignore the silent insertion of today’s major international brands throughout the town centre. This however is merely a foetal symptom of the commercial revolution of which Croydon is about to enjoy. Amidst the vaults of planning commitments for the town centre lie a state-of-the-art 12,500 seat arena, a new 7,650 sq. ft. food store, a health and fitness centre, the expansion of the Whitgift Centre, the new Park Place department store, and over 1,000,000 sq. ft. of new commercial and office space. This scale of urban regeneration is unrivalled in the rest of the UK and will provide opportunity and development on a level unseen in these parts since the industrial revolution of the 1780’s.
In relation to more macro issues, Croydon houses a workforce of nearly 150,000 with 31% of its population between the ages of 20 and 39. 78% of the workforce is currently active (compared to London’s 74.5%) and 90.9% of this figure receives its income from the service industries. The main business sectors are: Manufacturing Construction Services Finance, IT, other business activities Transport & communications Distribution, Hotels, & restaurant Public admin, Education & health Other
(Tourism
4.2% 4.9% 90.9% 26.2% 5.4% 23.7% 30.2% 5.3%
7.1%)
The average weekly salary for the Croydon workforce is £479, which is notably higher than the national average of £449.
8
Transport Croydon is catered for by almost every method of transport imaginable short of international cruise liners. Its infrastructure is comprised of road, air and both heavy and light rail. It has a comprehensive public bus service, and boasts over 45 miles of signaled cycle routes. Croydon was home to the UK’s first ever airport at the Croydon Aerodrome from 1915 to 1959. Unfortunately it is no longer in service, however this proves little disadvantage to Croydon as it sits perfectly triangulated by three of London’s major International Airports at Gatwick (30 min. by road), London City (50 min.) and Heathrow (56 min.). Croydon junctures the M25 via the A22 and A23. Croydon is also served by heavy radial routes, which provide it with excellent access to Central London, the South Coast and indeed mainland Europe via Waterloo. It sees 1,500 trains pass along its tracks every day catering to over 100 destinations, however with Croydon’s connection to the London Underground and the Thameslink 2000 initiative, one can expect this to rise noticeably by 2010. Thameslink 2000 is a key strategic transport initiative, intended to enhance and expand the existing Thameslink network throughout London and the South East of England. It will take five years to complete and represents an investment by Railtrack of £800m. This will improve rail connections from Croydon to the rest of Britain through the proposed interchange with the Channel Tunnel rail link at St. Pancras, and will serve 6 additional stations in Croydon. Furthermore, platforms shall be extended with the introduction of new 12 car trains, and the frequency through London will increase from 8 trains per hour to a maximum 24 trains per hour in each direction. As part of Transport for London's £10bn Investment Programme, the East London Line is also being extended. Phase 1 is due to be completed by 2010, and is being lengthened northwards to Highbury & Islington, and south to Crystal Palace and West Croydon. It will be under the operation of TfL however will be comprised of entirely new overground rolling stock. This portal to the London Underground will allow Croydon direct access to the entire extended tube network, and place it at the footfall of London’s overflowing economy and workforce. We have witnessed previous suburban property markets rocket due to a TfL tube connection, but with The London 2012 Olympics also residing on the ELL, and Croydon’s massive regeneration commitments now underway, this town is soon expected to reap the greatest possible benefit from this arterial relationship with London. 9
Another jewel in Croydon’s crown comes in the guise of its light rail network. Considered one of the best in Europe it currently satisfies 22.5m passengers a year. Not to be left out, Croydon Tramlink is also planning expansion. The proposed line will connect Croydon to Crystal Palace Bus & Rail Stations with 6 trams every hour. A date for completion is not yet finalised.
Croydon is also involved in the SELTRANS partnership, which is currently spending over £2m a year on improving local bus infrastructure. In Croydon this involves improved access, markings, signage and surfacing for the network. The SWELTRAC partnership will also provide assistance in the form of improved transport interchange performance, as it aims to integrate various methods of public transport onto a more comprehensive grid.
10
Regeneration Throughout this report it is apparent that Croydon is going through a phase of regeneration unparalleled in the UK at present. Although its infrastructure is obviously receiving massive investment, this is grossly overshadowed by the magnitude of its private development. The Bridge House in Surrey St. is earmarked to be one of Croydon’s most desirable residences, bordered by a magnificent church and courtyard, it is located right at the heart of the town just off High St. The developers, Howard Holdings (Croydon based), are also erecting two other sites in Croydon at The Exchange and Altitude 25. Together, these will comprise of 36,896 sq m providing 337 apartments, quality car parking, and shopping and leisure facilities within each development. Howard Holdings also own and manage the impressive Whitgift Shopping Centre, which will be subject to redevelopment and regeneration during the coming years. The Croydon Gateway is an arena based scheme and is planned for one of the most significant sites in London. The site, alongside East Croydon station, will include a 12,500-seat arena, ‘Grade A’ offices (500,000 sq m), apartments (800), a supermarket (7,650 sq m), a health club, and numerous bars and restaurants. The scheme, which will be fully integrated with East Croydon Station and the tram halt, will significantly boost Croydon’s image as an attractive destination for business, retail, and hospitality providers. Cherry Orchard Road is a radical proposal for a groundbreaking 93,000 sq m mixed use project designed as a series of remarkable crystalline towers. The development could also incorporate an extension to East Croydon Station.
11
Wellesley Square is an impressive new mixed use development consisting of an iconic 44-storey tower, 800 new homes, 3,000 sq m of quality retail and public realm including a new town square.
IYLO is a stylish new 20-storey tower with ancillary public gardens, which is destined to become a focal point at the city’s northern gateway. (No photo available)
100 Georges Street is an imposing new 25,824 sq m office and retail development directly opposite East Croydon station and is an important addition to the heart of the city. Developer Terrace Hill is confident the new project will set a standard for office accommodation within the region, enabling Croydon to compete at the highest level. Park Place, adjacent to The Bridge House, will include a shopping mall, bus station, offices and a public square (similar to the size of Covent Garden Piazza) over its 1 million sq ft scheme.
Central One will be a dynamic vertical business park offering floor plates of 25,000 sq ft over 40 storeys totaling 500,000 sq ft. An impressive working environment will be created using internal atria every 6 floors complimented by areas of public realm and service amenities.
12
Comparables Below are the new-build comparables available within 2 miles of Croydon Centre.
1.
The Bridge House
2.
The Exchange (Twin development to The Bridge House) 1 bed @ 215,000 2 bed @ 320,000 3 bed @ 545,000
3.
Blenhein Edge 1 and 2 bed @ 190,000 – 245,000
13
4. Leslie Park Road 2 bed @ 250,000 Immaculate two double bedroom first floor luxury flat in a much sought after twoyear old development, gas CH, double glazing, superb fitted kitchen, private balcony, entry phone, two bathrooms, off street parking, ideal for commuters within 600m of East Croydon Station. 5.
Sanderstead Road 2 bed @ 280,000 Vantage Point is in a unique location on the out skirts of Croydon Town Centre with its famous shopping centres and ever-popular night life/entertainment that caters for all ages. Vantage Point is sufficiently positioned outside Croydon Town Centre to be set in its own oasis of rural tranquility with a selection of local shops and restaurants within two minutes walk. Sanderstead British Rail Station is conveniently situated opposite the development, which has a frequent service to Central London and the South Coast (four trains per house. The site is also well served by bus from Sanderstead Road and is within walking distance of the Brighton Road and South Croydon Bus Garage. 6.
Windmill Court 1 bed @ 265,000 A development of 12 luxury one and two bedroom apartments and 1 stunning penthouse. The high specification incorporates many environmentally friendly features and carries the Eco Homes 'Excellent Standard' which combined with the beautiful open spaces and comprehensive facilities surrounding Shirley makes Windmill Court the ideal place to live. 7.
CleveCross 2 bed @ 277,500 – 285,000 A luxury 2 bedroomed ground floor apartment (situated to the rear) which was built by Henry Developments and forms part of an outstanding lock of apartments in Croydon's popular Park Hill area. 8.
QueeensGate 1 bed @ 169,000 – 195,000 2 bed @ 210,000 – 220,000 The former Queen’s hospital, occupying a prime Croydon Location, has been a distinctive landmark since it was built almost 150 years ago. Now this superbly located site is being transformed into a glorious new development that will once again have heads turning. Full of open spaces, yet close and
14
convenient for Croydon's thriving hub, Queensgate will offer a mix of one and two bedroom apartments (many with en-suite bathrooms) and a crescent of 6 threebedroom townhouses. 9.
Moreton Road 2 bed @ 250,000 Plot 1 - A ground floor new build two bedroom apartment situated in South Croydon. The property comprises of security entry phone system, communal entrance hallway and stairs to all floors, private hallway leading to open plan living/dining room and kitchen, master bedroom with fitted wardrobes and en-suite shower room, second bedroom, family bathroom, communal gardens, allocated parking. 10.
New South Quarter 1 bed @ 195,000 New development of studio, 1, 2 and 3 bed apartments launching spring 2007.
11.
The Academy Studio @ 212,000 2 bed @ 210,000 – 228,000 The Academy includes one and two bedroom apartments and two, three and four bedroom houses.
15
Reference Croydon Council
www.croydon.gov.uk
Croydon Business
www.croydonbusiness.com
Wikipedia
www.wikipedia.org
Nomis Official Labour Market Statistics
www.nomisweb.co.uk
European Edge Cities Network
www.edgecities.com
Croydon Guardian
www.croydonguardian.org
Croydon Online
www.croydononline.org
Croydon Chamber of Commerce
www.croydonchamber.org.uk
World Architecture News
www.worldarchitecturenews.com
Wessex Institute
www.library.witpress.com
National Rail
www.nationalral.com
Tramlink
www.tramlink.net
Croydon Tramline (unofficial)
www.croydon-tramline.co.uk
Transport for London
www.tfl.gov.uk
Light Rail Transport Association
www.lrta.org
Croydon College
www.croydon.ac.uk
Croydon Gateway
www.croydongateway.co.uk
Google Maps
www.maps.google.co.uk
NHS
www.croydon.nhs.uk
London Fire & Emergency Planning Authority
www.london-fire.gov.uk
Metropolitan Police
www.met.police.uk
London Online
www.londononline.co.uk www.bestlondonrestaurants.co.uk
16
- Summary
3
- Introduction
4
- Location
5
- Site
6
- Local Amenities & Area Analysis
7
- Transport
9
- Regeneration
11
- Comparables
13
- Reference
16
2
Summary Below are our main topics of interest covered in this report. Croydon – ‘London’s 3rd City’, after The Cities of London and Westminster.
Croydon is London’s Largest Borough with a population of over one 3rd of a million people, and a 78% active workforce of 150,000.
Croydon sits less than 11 miles from Big Ben, and only 30 minutes drive to Gatwick International Airport. Only 11 min. journey time from Central London by rail.
By 2010 Croydon will be a part of the London Underground network.
2nd Largest Retail Centre in the UK with the 3rd Largest Dept. Store.
Over 4 billion UK£ is invested in regenerating Croydon through private development and infrastructural modification (£3.5bn already committed). Key Private: (over 1million commercial sq ft) The Croydon Gateway Cherry Orchard Road The Bridge House The Exchange
Key Infrastructural: ThamesLink2000 TfL East London Line Croydon Tramlink expansion SELTRANS
The Bridge House sits at the epicenter of Croydon, enjoying a historical niche of the old town whilst neighbouring all of Croydon’s modern amenities.
Croydon is a long forgotten town that is due its day in the spotlight. The coming years are going to define a new era for London’s most promising Borough and give it all the modern facilities and floor-space it needs to be a serious contender on the London property market. – Now is the time to recognize this opportunity.
3
Introduction Croydon is the largest of London’s 33 boroughs with a population of 342,700, earning it the slogan of London’s 3rd City (following The City of London & The City of Westminster). The Borough of Croydon was formed in 1965, and covers an area of 34 square miles (87km). Today it is the largest office and retail centre in the south east of England after Central London with more than 20,000 businesses trading there, and being just 11 minutes from Central London by rail, and less than 30 minutes from 2 international airports it lies directly in the cross hairs of London’s property starved workforce. With London prices being forced upwards by a surge in international investment, many developers, funding institutions, investors, and occupiers alike are beginning to appreciate the incredible potential that this suburban hub has to offer. Croydon is currently experiencing one of the most dynamic regeneration and growth phases ever witnessed by any city in the UK. At present some £3.5bn has been committed to redeveloping the area, with more in the pipeline bringing its investment programme to £4bn+. This is shared among private developments, infrastructural modification, and local social improvements. This magnitude of investment is expected not only to lift the face of Croydon, but to construct the endoskeleton of entire new city from the foundations of this historical market town.
4
Location Croydon lies directly south of London at 51°20’ North, 0°05’ West. From Big Ben, it is only 10.9 miles straight down the A23, and is almost equidistant to the M25.
It has 3 main train stations (E, S & W) and is serviced by Southeastern, Southern, First Capital Connect, and Virgin Trains.
Croydon is also triangulated by 3 of London’s biggest international airports and lies within surprising proximity to each. City Airport
11.25 miles
Gatwick
15.5 miles
Heathrow
17.25 miles
Due to its southern positioning, Croydon also has very easy access to Brighton, Kent and indeed all that the south coast has to offer.
5
Site The Borough of Croydon itself is quite a vast area (34 sq miles) however the regeneration spending that we refer to is mainly centralized within a 1-mile radius of Croydon town. Within this catchment area lie numerous promising projects, however none more worthy of attention than The Bridge House off High St.
The Bridge House rises on Surrey Street adjacent to the magnificent presence of a Castle and Christian Church, and is complimented by its twin development across the vista at The Exchange. Both developments are the brainchildren of Howard Holdings Limited, however the Bridge House will be constructed using volumetric ‘pods’. This state of the art process is cutting edge in the industry and involves most of the unit fabrication off site so as to minimize on local disruption and environmental impact. Once complete the development will observe Croydon from a 7 storey altitude, and shall have unrivalled pedestrian access to all its local facilities. Park Place, the new Whitgift Centre, The Gateway and East Croydon railway station shall all be within 5 minutes walk, with the areas light rail tram network servicing the northern perimeter of the site. By 2010 The Bridge House shall also be connected to the London Underground East London Line at West Croydon Station, also within a 1-mile reach. When it come to location, The Bridge House enjoys all the modern facilities and amenities of Croydon from its very own doorstep, while simultaneously maintaining the elegance and privacy of its own landscaped courtyard and historical surrounds.
6
Local Amenities Due to its sheer size and population, Croydon has essentially got all the facilities and amenities one would expect from a modern city. It offers a rich artistic heritage as well as providing opportunities for an active and diverse social life. Within the Borough, 17 facilities provide a wide range of sports and recreational activities including 4 swimming pools. The area also boasts 120 parks and managed spaces amidst its 2,600 acres of green space, crowning it the 3rd greenest borough of London. Croydon has two full championship golf courses, seven 8-hole courses, pitch and putt courses and driving ranges. Sailing and canoeing are also available at the South Norwood Country Park. Croydon enjoys 20km of the London Loop and 34km of bridleway for horse riding and cycling. In addition, Crystal Palace National Sports Centre is a relatively near venue for a number of major national and international athletics events, whilst not forgetting that London's vast array of entertainment venues, museums, art galleries and sport facilities are only a short train journey from Croydon. Croydon was dedicated its own cabinet-style council in 2001 and there sits 70 individual councilors, and an employee roll of over 10,000 people. Within the borough lie 156 schools and a main University. Croydon College tutors 14,000 students and employs over 1,400 staff. With a legacy of 100 years and over 250 different courses, it is considered one of the finest learning institutions of Southern England. Croydon also houses numerous hospitals and medical centers including the Royal Marsden and Mayday Hospitals, and the NHS walk-in centre on High St. In addition to these, there is an increasing market for homeopathy and natural medicine in the area with numerous physicians and practitioners listed for multiple medical disciplines. The social scene in Croydon is also on an ever-evolving scale as one cannot help but notice the appearance of more and more London style eateries and bars appearing along George Street and High Street. Establishments vary from traditional pubs to contemporary wine bars, and cuisine caters for everything from café’s and noodle bars to fine evening dining. Shopping and commercial zoning also plays a very important role for any residential development. Fortunate therefore that Croydon has more undercover town centre shopping than anywhere else in the UK (after Central London), with its flagship Allders being the 3rd largest department store after Harrods and Selfridges. It has 7
historically been a market town, and although one can still haggle the price a bag of lemons and a kipper on High Street’s market, it is impossible to ignore the silent insertion of today’s major international brands throughout the town centre. This however is merely a foetal symptom of the commercial revolution of which Croydon is about to enjoy. Amidst the vaults of planning commitments for the town centre lie a state-of-the-art 12,500 seat arena, a new 7,650 sq. ft. food store, a health and fitness centre, the expansion of the Whitgift Centre, the new Park Place department store, and over 1,000,000 sq. ft. of new commercial and office space. This scale of urban regeneration is unrivalled in the rest of the UK and will provide opportunity and development on a level unseen in these parts since the industrial revolution of the 1780’s.
In relation to more macro issues, Croydon houses a workforce of nearly 150,000 with 31% of its population between the ages of 20 and 39. 78% of the workforce is currently active (compared to London’s 74.5%) and 90.9% of this figure receives its income from the service industries. The main business sectors are: Manufacturing Construction Services Finance, IT, other business activities Transport & communications Distribution, Hotels, & restaurant Public admin, Education & health Other
(Tourism
4.2% 4.9% 90.9% 26.2% 5.4% 23.7% 30.2% 5.3%
7.1%)
The average weekly salary for the Croydon workforce is £479, which is notably higher than the national average of £449.
8
Transport Croydon is catered for by almost every method of transport imaginable short of international cruise liners. Its infrastructure is comprised of road, air and both heavy and light rail. It has a comprehensive public bus service, and boasts over 45 miles of signaled cycle routes. Croydon was home to the UK’s first ever airport at the Croydon Aerodrome from 1915 to 1959. Unfortunately it is no longer in service, however this proves little disadvantage to Croydon as it sits perfectly triangulated by three of London’s major International Airports at Gatwick (30 min. by road), London City (50 min.) and Heathrow (56 min.). Croydon junctures the M25 via the A22 and A23. Croydon is also served by heavy radial routes, which provide it with excellent access to Central London, the South Coast and indeed mainland Europe via Waterloo. It sees 1,500 trains pass along its tracks every day catering to over 100 destinations, however with Croydon’s connection to the London Underground and the Thameslink 2000 initiative, one can expect this to rise noticeably by 2010. Thameslink 2000 is a key strategic transport initiative, intended to enhance and expand the existing Thameslink network throughout London and the South East of England. It will take five years to complete and represents an investment by Railtrack of £800m. This will improve rail connections from Croydon to the rest of Britain through the proposed interchange with the Channel Tunnel rail link at St. Pancras, and will serve 6 additional stations in Croydon. Furthermore, platforms shall be extended with the introduction of new 12 car trains, and the frequency through London will increase from 8 trains per hour to a maximum 24 trains per hour in each direction. As part of Transport for London's £10bn Investment Programme, the East London Line is also being extended. Phase 1 is due to be completed by 2010, and is being lengthened northwards to Highbury & Islington, and south to Crystal Palace and West Croydon. It will be under the operation of TfL however will be comprised of entirely new overground rolling stock. This portal to the London Underground will allow Croydon direct access to the entire extended tube network, and place it at the footfall of London’s overflowing economy and workforce. We have witnessed previous suburban property markets rocket due to a TfL tube connection, but with The London 2012 Olympics also residing on the ELL, and Croydon’s massive regeneration commitments now underway, this town is soon expected to reap the greatest possible benefit from this arterial relationship with London. 9
Another jewel in Croydon’s crown comes in the guise of its light rail network. Considered one of the best in Europe it currently satisfies 22.5m passengers a year. Not to be left out, Croydon Tramlink is also planning expansion. The proposed line will connect Croydon to Crystal Palace Bus & Rail Stations with 6 trams every hour. A date for completion is not yet finalised.
Croydon is also involved in the SELTRANS partnership, which is currently spending over £2m a year on improving local bus infrastructure. In Croydon this involves improved access, markings, signage and surfacing for the network. The SWELTRAC partnership will also provide assistance in the form of improved transport interchange performance, as it aims to integrate various methods of public transport onto a more comprehensive grid.
10
Regeneration Throughout this report it is apparent that Croydon is going through a phase of regeneration unparalleled in the UK at present. Although its infrastructure is obviously receiving massive investment, this is grossly overshadowed by the magnitude of its private development. The Bridge House in Surrey St. is earmarked to be one of Croydon’s most desirable residences, bordered by a magnificent church and courtyard, it is located right at the heart of the town just off High St. The developers, Howard Holdings (Croydon based), are also erecting two other sites in Croydon at The Exchange and Altitude 25. Together, these will comprise of 36,896 sq m providing 337 apartments, quality car parking, and shopping and leisure facilities within each development. Howard Holdings also own and manage the impressive Whitgift Shopping Centre, which will be subject to redevelopment and regeneration during the coming years. The Croydon Gateway is an arena based scheme and is planned for one of the most significant sites in London. The site, alongside East Croydon station, will include a 12,500-seat arena, ‘Grade A’ offices (500,000 sq m), apartments (800), a supermarket (7,650 sq m), a health club, and numerous bars and restaurants. The scheme, which will be fully integrated with East Croydon Station and the tram halt, will significantly boost Croydon’s image as an attractive destination for business, retail, and hospitality providers. Cherry Orchard Road is a radical proposal for a groundbreaking 93,000 sq m mixed use project designed as a series of remarkable crystalline towers. The development could also incorporate an extension to East Croydon Station.
11
Wellesley Square is an impressive new mixed use development consisting of an iconic 44-storey tower, 800 new homes, 3,000 sq m of quality retail and public realm including a new town square.
IYLO is a stylish new 20-storey tower with ancillary public gardens, which is destined to become a focal point at the city’s northern gateway. (No photo available)
100 Georges Street is an imposing new 25,824 sq m office and retail development directly opposite East Croydon station and is an important addition to the heart of the city. Developer Terrace Hill is confident the new project will set a standard for office accommodation within the region, enabling Croydon to compete at the highest level. Park Place, adjacent to The Bridge House, will include a shopping mall, bus station, offices and a public square (similar to the size of Covent Garden Piazza) over its 1 million sq ft scheme.
Central One will be a dynamic vertical business park offering floor plates of 25,000 sq ft over 40 storeys totaling 500,000 sq ft. An impressive working environment will be created using internal atria every 6 floors complimented by areas of public realm and service amenities.
12
Comparables Below are the new-build comparables available within 2 miles of Croydon Centre.
1.
The Bridge House
2.
The Exchange (Twin development to The Bridge House) 1 bed @ 215,000 2 bed @ 320,000 3 bed @ 545,000
3.
Blenhein Edge 1 and 2 bed @ 190,000 – 245,000
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4. Leslie Park Road 2 bed @ 250,000 Immaculate two double bedroom first floor luxury flat in a much sought after twoyear old development, gas CH, double glazing, superb fitted kitchen, private balcony, entry phone, two bathrooms, off street parking, ideal for commuters within 600m of East Croydon Station. 5.
Sanderstead Road 2 bed @ 280,000 Vantage Point is in a unique location on the out skirts of Croydon Town Centre with its famous shopping centres and ever-popular night life/entertainment that caters for all ages. Vantage Point is sufficiently positioned outside Croydon Town Centre to be set in its own oasis of rural tranquility with a selection of local shops and restaurants within two minutes walk. Sanderstead British Rail Station is conveniently situated opposite the development, which has a frequent service to Central London and the South Coast (four trains per house. The site is also well served by bus from Sanderstead Road and is within walking distance of the Brighton Road and South Croydon Bus Garage. 6.
Windmill Court 1 bed @ 265,000 A development of 12 luxury one and two bedroom apartments and 1 stunning penthouse. The high specification incorporates many environmentally friendly features and carries the Eco Homes 'Excellent Standard' which combined with the beautiful open spaces and comprehensive facilities surrounding Shirley makes Windmill Court the ideal place to live. 7.
CleveCross 2 bed @ 277,500 – 285,000 A luxury 2 bedroomed ground floor apartment (situated to the rear) which was built by Henry Developments and forms part of an outstanding lock of apartments in Croydon's popular Park Hill area. 8.
QueeensGate 1 bed @ 169,000 – 195,000 2 bed @ 210,000 – 220,000 The former Queen’s hospital, occupying a prime Croydon Location, has been a distinctive landmark since it was built almost 150 years ago. Now this superbly located site is being transformed into a glorious new development that will once again have heads turning. Full of open spaces, yet close and
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convenient for Croydon's thriving hub, Queensgate will offer a mix of one and two bedroom apartments (many with en-suite bathrooms) and a crescent of 6 threebedroom townhouses. 9.
Moreton Road 2 bed @ 250,000 Plot 1 - A ground floor new build two bedroom apartment situated in South Croydon. The property comprises of security entry phone system, communal entrance hallway and stairs to all floors, private hallway leading to open plan living/dining room and kitchen, master bedroom with fitted wardrobes and en-suite shower room, second bedroom, family bathroom, communal gardens, allocated parking. 10.
New South Quarter 1 bed @ 195,000 New development of studio, 1, 2 and 3 bed apartments launching spring 2007.
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The Academy Studio @ 212,000 2 bed @ 210,000 – 228,000 The Academy includes one and two bedroom apartments and two, three and four bedroom houses.
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Reference Croydon Council
www.croydon.gov.uk
Croydon Business
www.croydonbusiness.com
Wikipedia
www.wikipedia.org
Nomis Official Labour Market Statistics
www.nomisweb.co.uk
European Edge Cities Network
www.edgecities.com
Croydon Guardian
www.croydonguardian.org
Croydon Online
www.croydononline.org
Croydon Chamber of Commerce
www.croydonchamber.org.uk
World Architecture News
www.worldarchitecturenews.com
Wessex Institute
www.library.witpress.com
National Rail
www.nationalral.com
Tramlink
www.tramlink.net
Croydon Tramline (unofficial)
www.croydon-tramline.co.uk
Transport for London
www.tfl.gov.uk
Light Rail Transport Association
www.lrta.org
Croydon College
www.croydon.ac.uk
Croydon Gateway
www.croydongateway.co.uk
Google Maps
www.maps.google.co.uk
NHS
www.croydon.nhs.uk
London Fire & Emergency Planning Authority
www.london-fire.gov.uk
Metropolitan Police
www.met.police.uk
London Online
www.londononline.co.uk www.bestlondonrestaurants.co.uk
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