Croydon Council acquires shopping centre

Thu 29th November 2018, 9:00 am

The London Borough of Croydon has purchased the Colonnades Retail and Leisure park for £53 million.

The site on Purley Way comprises of nine units, including McDonalds, Costa, Premier Inn and Wickes, with a further three units planned.

The news comes after the council’s purchase of Croydon Park Hotel for £29.8 million in September.

Simon Hall, Croydon’s cabinet member for finance and resources, said: “We’re investing in our borough, for our borough. This is a solid investment on a well-performing asset, enabling us to bring in additional income to fund core services. As government grant funding for local authorities remains uncertain, we’re doing what we can to ensure we can provide services our residents expect and deserve.”

The London Borough of Croydon will attend Sitematch London on 7 February 2019 to meet with developers and investors. To secure your meeting, contact Jake Westhead on 02079786840.

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