Develop Croydon Conference | 20th November 2018 | Croydon Park Hotel

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Jul

Cushman & Wakefield report highlights South Norwood’s potential

South Norwood has been hailed as an “untapped” area for retail and leisure investment in Greater London.

The major study of 104 locations across the city (excluding central London) also revealed Croydon to be a “maturing” centre.

Areas were ranked in one of five categories: “truly established,” “maturing”, “flourishing”, “up and coming” and “untapped” by report authors Cushman & Wakefield.

Justin Taylor, Head of EMEA Retail, said: “This report presents a significant snapshot of London in 2018 and suggests where tomorrow’s opportunities might emerge. It highlights where change is happening. And it captures the views of some key influencers, who are at the forefront of projects that will have an impact on the capital for decades to come.”

Each location was analysed according to a range of variables, from housing affordability and public transport accessibility, to the availability of creative space, and food and beverage culture.

John Percy, Head of Development and Place at Cushman & Wakefield added: “Key to taking advantage of these [rankings] is an understanding that possibilities are linked to a location’s individual characteristics, rather than its notional timeline position. It is quite conceivable that a Truly Established area can hold as many opportunities as an Untapped one.”

Croydon was considered “maturing” for reasons including its position as London’s fastest growing tech start-up cluster, the £30m refurbishment of the Fairfield Halls arts venue and Stanhope/Schroders’ Ruskin Square mixed-use scheme which provides high spec offices right next to East Croydon station.

Boxpark, Westfield and Hammerson’s retail development, Guildhouse Rosepride’s One Lansdowne (due to be the UK’s second tallest building) and Greystar/Henderson Park’s 101 George Street development (two of the world’s tallest modular construction towers) were also reputation-enhancing.