Westfield plans to open a third London shopping centre in Croydon.
The Australian developer is in talks with the Whitgift Foundation, the freehold owner of the Whitgift shopping centre, to “examine opportunities arising from the retail-led regeneration of the Croydon town centre”.
Westfield said the South London location appeals as it is close to Gatwick Airport and serves the affluent trade areas of Surrey and Kent, as well as parts of Hampshire, East Sussex and West Sussex.
Westfield already operates two large shopping centres in the London area, in Shepherds Bush and in Stratford, which opened in September.
The scheme has the potential to serve over 3 million customers in London and the south east of England, according to Westfield.
The developer said that this market is “currently underserved by high quality retail and leisure facilities and is well known to be a target market for major retail groups in the UK”.
Westfield managing director Europe and new markets Michael Gutman said, “There is the potential for a major retail scheme in this strategic market which has been identified in the past by the John Lewis Partnership as a possible key location and the GLA and the local authorities have very high aspirations to implement a major retail scheme and the regeneration of the town centre.
“Westfield and the Whitgift Foundation will seek a constructive dialogue with all the key
stakeholders over the coming weeks and months to seek to bring this much anticipated
project to fruition.” he said.