Minerva and Lend Lease Europe form joint venture for Croydon retail development (UK)

Minerva plc, the property investment and development company, has confirmed it has agreed terms with Lend Lease Europe Ltd for the development of Park Place, Croydon, UK.

The in-principle agreement will result in a 50/50 joint venture through which Lend Lease will lead the development.

Park Place, which was granted detailed planning permission in May 2004, will provide approximately 900,000 sq ft of new retail and restaurant accommodation in Croydon’s town centre. It is anticipated that the development will be completed by summer 2010.

Source: Freeman

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