John Laing Win Croydon Regeneration

John Laing Projects and Developments has been successfully chosen as the partner for Croydon Council ahead of the proposed £450m regeneration.

The works will include the redevelopment of four Council Owned sites as well as the building of a new town hall.

The news comes after months of consultation, beating off competition such as Land Securities. Approval will be given at cabinet level to the appointment.

The council said: ‘Through setting up a limited liability partnership in which the council and its selected private sector investment partner would each have a 50% stake (through the authority’s land assets and the partner’s cash) the council will be able to ensure regeneration takes place in the way it wants and to realise much greater value from the proceeds.’

Councillor Tim Pollard said: ‘It won’t have escaped anyone’s notice that some of the most successful companies in the UK are property developers. The council has for some time sold sites to the highest bidder only for developers to take all the profit when land is developed.
'The solution we expect to engineer with John Laing will ensure we get a big slice of the future action and make a lasting contribution to Croydon’s regeneration.’