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