Minerva has moved a step closer to kickstarting development of its Park Place scheme in Croydon after securing Compulsory Purchase Order rights on land surrounding the site.
The Secretary of State has ruled in favour of the proposed scheme, enabling Minerva to press ahead with plans to acquire parcels of land vital to the delivery of the development.
Once completed, Park Place will provide 900,000 sq ft (83,612 sq m) of retail and leisure space including a department store and more than 135 speciality retail shops and restaurants. Construction is expected to start in early 2008 with completion due in 2011.
Tim Garnham, development director of Minerva, said: ‘This is a significant decision and positive milestone for Park Place. Minerva firmly believes in Park Place and the successful confirmation of the CPO brings us and, going forward, our partners Lend Lease, one step closer to the realisation of this important retail led regeneration project for Croydon.’