Green Light For Croydon Asset-backed Vehicle

摘要

John Laing and croydon Council this week signed a partnership for a ￡450m local asset-backed vehicle to regenerate Croydon town centre and develop a council headquarters. The 25-year limited liability partnership will regenerate four town centre sites, including two 40-storey towers of around 650 flats. The four sites will create around 1,250 homes between 2012 and 2017. John Laing will also develop a 240,000 sq ft council headquarters at Fell Road. The partnership said: 'The council's land value and share of development profit will be sufficient to pay for the building and its running costs for many years.' The council has already exchanged contracts on Davis House, which adjoins the Fell Road site, from Highcross. The vacant building will be used for short-term 'decant' space. In the medium term, it will form part of a larger block.