Croydon businesses have been boosted by the arrival of the new East London Line, in what has been hailed as an historic development for London’s rail infrastructure. The new line is expected to stimulate growth and provide opportunities across the area by making access to many jobs in London much easier, and also develop Croydon’s status as a centre for retail and commerce further.
The 14 mile line runs from West Croydon to Dalston in North London, and has cost £1 billion with another £500 million being spent on 57 new trains. Four trains an hour will run into West Croydon. Ian Brown, Managing Director of London Rail for Transport for London, said that the importance of the new line should not be underestimated. “For local people and local businesses in Croydon it will make a heck of a difference,” he said.
Local businesses said that the opening of the East London line further enhances Croydon Town Centre’s claim to be one of the best connected locations in the country including the Tram network, now 10 years old, and East Croydon’s high speed train links all set for redevelopment. “The opening of the East London Line will add to the fantastic transport connections available here in Croydon Town Centre,” said Ros Morgan, Director of Croydon Town Centre BID. “I’m looking forward to welcoming new shoppers and businesses into the area to take advantage of our facilities via the new tube line.” Andrew Bauer, Centre Director at the Whitgift Shopping Centre added: “The arrival of the East London Line into West Croydon will have the immediate trade benefit of providing a direct link to existing and new retail custom in Crystal Palace and Norwood, and in the longer term the West/East linkage to Canary Wharf will strengthen Croydon as an office location, bringing new employment and greater prosperity to the area.”
At the same time, Croydon Council has halved the size of the proposed Park Place development to 46,450 sq.metres (500,000 sq.ft.) and will now look for a development partner. It will also seek a new master plan for the site. Minerva, that owns 80% of the site, is considering a sale of the holding but might also seek to be involved in the new scheme.
The Kent, Surrey and Sussex Commercial Property Register
The Commercial Property Register for Kent, Surrey and Sussex is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Kent Surrey and Sussex. You can also find the latest commercial property news for this region.
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