Westfield-Hammerson $NZ2 billion Croydon redevelopment wins double approval
GDI launches prospectus for $A567 million reit
Westfield-Hammerson $NZ2 billion Croydon redevelopment wins double approval
Westfield Group and Hammerson plc’s £1 billion (now slightly over $NZ2 billion) retail redevelopment of Croydon’s town centre, 15km south of central London, won double approval this week.
On Monday, the borough council granted planning permission to the Croydon Partnership’s outline planning application to redevelop the Whitgift Centre into a 140,000m² retail & leisure destination and build 600 homes, an important step towards the companies’ plans to regenerate the whole town centre.
The site forms part of the Croydon opportunity area, which has a vision to create up to 10,000 new homes & 7500 jobs and improve local transport infrastructure.
Overnight, the mayor of London, Boris Johnson, also gave his required approval.
Links: Westfield
Hammerson
Pinsent Masons legal news, project detail
GDI launches prospectus for $A567 million reit
The Sydney-based GDI Property Group Ltd launched a prospectus this week to raise $A567.6 million for a new listed real estate investment trust, closing on Tuesday 10 December.
On closure, shares in GDI Property Group will be stapled to units in GDI Property Trust, with the stapled securities listed on the ASX. The group will own 4 multi-leased cbd office buildings located in Perth, Sydney, Adelaide & Brisbane. And will also own the existing syndicates business.
Access to the prospectus isn’t open to New Zealand investors.
Link: GDI Property Group
Background
This page began as Propbd breakfast but was often pushing uphill to make it by afternoon tea. And its content was a lucky dip. Now you know it’s always about world property, it’s daily, and the key words in the rest of the heading are a clue to the individual items.
Attribution: Westfield, Hammerson, Pinsent Masons, GDI
Regular leads: Europe Real Estate, Mingtiandi, Planetizen, World Property Channel
