What does BREXIT mean for Croydon’s Re-development?

The debate has started on what the BREXIT result could be on the private developers who are re-making Croydon Town Centre for the benefit of their shareholders rather than the needs of Croydonians.

Croydon Advertiser’s discussion on the issue is at:

http://www.croydonadvertiser.co.uk/case-of-wait-and-see-what-life-outside-the-eu-will-mean/story-29461493-detail/story.html

Hav Singh of the Croydon Property News website does not think BREXIT will adversely affect Croydon’s property market. Having seen my Croydon Citizen piece on BREXIT and Croydon he asked whether I would be interested in writing for his website. When he realised that I have a completely different view to him on the property world and the damage it is doing to Croydon he realised that I would not be a suitable contributor!

http://thecroydoncitizen.com/politics-society/brexit-threatens-croydon

http://croydonpropertynews.co.uk/index.php/brexit-may-worked-perfectly-croydon-investors

The potential adverse effect of BREXIT for Croydon is a major challenge to newly appointed Chief Executive Jo Negrini. Since she  has worked so hard to ensure that most of the developers have got what they wanted, she will now need to develop a Plan B if any of them pull the plug on their schemes.

http://www.yourlocalguardian.co.uk/news/14593778.Acting_CEO_confirmed_as_permanent_Croydon_Council_boss

 Hammerson  lost 32.2% share value as a result of the BREXIT result but recovered to 9% lower but then by 1 July experienced a further drop of 2%. . Analysts think it can weather the storm.

http://www.telegraph.co.uk/business/2016/06/30/questor-share-tip-hammerson-is-strong-enough-to-weather-brexit-s

https://www.fool.co.uk/investing/2016/07/01/is-this-a-once-a-decade-opportunity-to-buy-property-stocks

On 29 June Moody’s Investors Service changed to negative from stable the outlook on Hammerson’s long-term and its unsecured domestic and foreign currency bond ratings.

https://www.moodys.com/research/Moodys-changes-outlook-on-Hammersons-Baa1-rating-to-negative-from–PR_351253

Meanwhile there could be a major set back to Hammerson’s ambitions if London  Mayor Sadiq Khan rejects its  joint Bishopsgate venture

http://www.propertyweek.com/resi/future-of-bishopsgate-goodsyard-hangs-in-balance/5083855.article

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About seancreighton1947

Since moving to Norbury in July 2011 I have been active on local economy issues with Croydon TUC and Croydon Assembly, and am a member of the latter's Environment Forum. I am a member of the 5 Norbury Residents Associations Joint Planning Committee, and a Governor of Norbury Manor Primary School. I write for Croydon Citizen at http://thecroydoncitizen.com. I co-ordinate the Samuel Coleridge-Taylor and Croydon Radical History Networks and advise the North East People's History Project.. I give history talks and lead history walks. I retired in 2012 having worked in the community/voluntary sector and on heritage projects. My history interests include labour movement, mutuality, Black British, slavery & abolition, Edwardian roller skating and the social and political use of music and song. I have a particular interest in the histories of Battersea and Wandsworth, Croydon and Lambeth. I have a publishing imprint History & Social Action Publications.
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