London Square Partners has sealed a deal on the St Michael’s Courtyard site next to West Croydon station to create a stunning new centrepiece for the area, with an attractive public square, shops, cafes and 232 new homes – with 55 per cent affordable.
The one-acre site was acquired from Portman Square Holdings. London Square Partners, the developer’s affordable housing division, will work with Clarion Housing Group to deliver their third scheme together. St Michael’s Courtyard has a GDV of £90m, which will form a major part of the West Croydon Masterplan and create a new gateway to Croydon Town Centre.
Planning is already in place for the development, designed by Assael Architecture, featuring two handsome brick buildings of 21 storeys and 25 storeys for the residential element, 947 m2 of commercial space, with retail and offices at street level and the new piazza opening up views to the listed St Michael and All Angels Church. Pedestrian links will also be created to the station and new shopping centre.
London Square Partners will work in partnership with Clarion Housing Group to deliver 128 shared ownership homes, alongside 104 apartments for private sale. The award-winning developer and the country’s leading housing association are already working together to create 100 per cent affordable housing on schemes in Neasden and the second phase at Staines-upon-Thames.
The West Croydon area is seen as pivotal to providing the capacity for growth plans for the area, with the transport hub shaping perceptions of visitors and playing a key role in the success of the regeneration plans for Croydon town centre.
We look forward to delivering a really outstanding scheme that will help to redefine the West Croydon area and the wider ambitions for the borough. The London Borough of Croydon has been very supportive of our plans.
Our continued partnership with Clarion Housing Group means that we are able to build 55 per cent affordable homes, as well as for private sale. This will be a major boost for local people and those who want to move to the area. We look forward to working with Clarion on our third joint project.
London Square, which has an outstanding track record for tackling complex sites across Greater London, delivering a mix of affordable, homes for private sale, community facilities and commercial space, is continuing to look for new sites to expand the current land bank from £1.3bn to £2.6bn worth of assets, representing 4,500 homes.
London Square currently has 1,018 homes in production, forward sales of £180m and a land pipeline of 2,356 homes representing £1.3bn in gross development value. The company obtained a new £200m debt facility in 2018, securing the mid to long-term future of the company.