The London Borough of Croydon's planning committee today resolved to grant consent for Hammerson's proposal for the redevelopment of Centrale Shopping Centre.
The scheme, designed by Leslie Jones Architecture, will reconfigure 13,175 m² of the internal retail space and create a family-friendly leisure quarter.
Hammerson has already secured American cinema brand National Amusements as a pre-let for the extension. The 11-screen cinema will create a new leisure anchor for Centrale and will be National Amusements' first venture in London.
Alongside the cinema, the £50 million (approx. €62 million) investment will also deliver two flagship retail units and eight new restaurants.
Hammerson purchased the center in March 2011 having identified an opportunity to transform the town's retail and leisure offer. The redevelopment of Centrale forms part of Hammerson's long-term vision for retail in Croydon. Hammerson was recently selected as the preferred partner for the management and redevelopment of the Whitgift Centre by Royal London Asset Management and IBRC Assurance Company.
Commenting on the decision Lawrence Hutchings, Hammerson Managing Director UK Retail said: "I am delighted with the positive decision from the Council. Hammerson has worked hard over the past year to develop a scheme which will significantly enhance Croydon's evening economy and create a new leisure destination for the town."
The 64,700 m² scheme is currently home to 80 retail units including department store anchors Debenhams and House of Fraser, and attracts over 12 million consumers per year.
Work is expected to start in early 2013 with the new leisure and restaurant quarter open in autumn 2014.