The redevelopment of the Nestle building is one of the biggest projects in Croydon town centre. The plan will create hundreds of new flats in three residential buildings, retail shops, and a public square. An artist’s impression of the new towers shows them towering over the area. This could completely change it. For one the new square will create open space for locals to enjoy.
A plan years in the making
In total the project will produce 820 new homes. It will cost around £500million to develop the entire site. The plans were initially revealed in March 2016 but there was uncertainty because the developer had not successfully gained possession of all of the buildings. The following March the developer secured the freehold.
Although a timeline for the project has not been set planning permission is in place. The plan took a positive step forward recently though with a proposal to demolish part of the former Blue Orchid nightclub. This will allow redevelopment, including a change of use. A retail shop will be created on the ground floor of the new property. There will also be two one bedroom flats above it. In addition, the work will make sure the new building suits the character of the rest of the development.
Work could begin soon
If the plan to demolish part of the former nightclub is work could begin relatively soon. Permission is already in place for the demolition of the Nestle building to allow the creation of new flats.
The project will be great for Croydon, creating new homes and retail spaces that will attract businesses. It is a positive redevelopment, breathing new life into the old Nestle building, a nightclub that has been closed for ten years, and other unused buildings.
Finefair offers a range of services across this Borough. For example we are the best for estate management Croydon has to offer. Projects to redevelop parts of the Borough to create new homes and retail spaces offer great opportunities for investors. We are happy to help if they need us to.
If you would like to discuss anything with us please get in touch.