Redefine International has secured full planning permission from Croydon Borough Council for the redevelopment of St Anne’s House, a 1960’s office building located on Wellesley Road, Croydon.
The building will be redeveloped into a 144 bed hotel together with 46 residential units situated on the upper floors of the property. The asset is located opposite the much anticipated redevelopment of the Whitgift Shopping Centre and will form part of the regeneration of this area of Croydon Town Centre.
Redefine is in advanced stages of negotiations over both the hotel and residential elements of the scheme having secured interest prior to the commencement of the planning application process, a further announcement will be made in due course.
St Anne’s House is a 1960’s office building previously occupied by the Home Office and forms part of the legacy Government Portfolio acquired by Redefine through its merger with Wichford in 2011. Work is expected to start on site in September 2013 with expected completion in Q4 2014.
Commenting on the redevelopment, Mike Watters, Chief Executive, Redefine International Property Management, said: “St Anne’s was an outdated building and so we are very pleased to have been able to execute our asset management strategy, transforming this underperforming property into an income generating asset that will deliver long term returns for our shareholders. The building is ideally situated near to the Whitgift Shopping Centre, which, once developed, will further help transform and create long-term regeneration for this area of Greater London.”
Source: FTI Consulting