Retail developers Westfield and Hammerson have created a joint venture, the Croydon Partnership, in order to bring forward the redevelopment of Croydon’s town centre. The £1bn project will create 1.5 m2 of retail, leisure, and restaurant space and include circa 400–600 new homes. The development area includes the iconic Whitgift Centre, home to over 140 retailers.
Planning permission for the development was achieved in November of 2013, and a number of land interests have already been acquired. The project is, however, proceeding to utilise Compulsory Purchase powers. Croydon councillor Mike Fisher has justified the Council’s use of CPO powers in this statement: “Given the scale of this regeneration and the diversity and complexity of some of the land ownerships involved, it is unlikely that the developers will be able to reach agreement with all parties within a reasonable timeframe.” The decision to utilise compulsory purchase powers by the council is a “last resort” in order to bring the scheme to fruition.
Compulsory purchase is a complex process and it is important for claimants to engage a compulsory purchase order expert who fully understands the procedure, law, case law, and how compensation is calculated. If proper advice is not obtained, then the owner of the property can suffer significant financial losses.
It is crucial that you hire a CPO specialist if you are a business owner or own property that is subject to the Croydon CPO in order to ensure that you receive accurate information and compensation. Please do not hesitate to contact Roger Hannah & Co who can assist in all CPO matters.
Further information regarding the scheme can be found at:
http://thecroydonpartnership.com/