Sir Stuart Lipton and Julian Metcalfe will spearhead the regeneration of Croydon and Tottenham, it was announced today.
Leading property developer Lipton will be responsible for spending around half of a £20m regeneration fund in Tottenham. The remainder of cash will be used by Metcalfe to bolster growth in Croydon.
The duo, appointed by the Mayor of London Boris Johnson, will work with the borough councils, businesses and communities to rebuild riot-hit areas, which were damaged by the disruption in London in August.
Masterplans for both regions will be created, and will include details of improving transport links and buying-up and rebuilding damaged properties. These will be presented to the mayor by the end of the year.
Johnson said: “This is a once-in-a-generation opportunity to build on the momentum of rebuilding and repair work, and turn it into a permanent regeneration of two long-neglected areas of the capital.”
He added that Lipton and Metcalfe, whose portfolios include Pret a Manger and Itsu, bring with them a “wealth of commercial experience to help champion investment”.
joanna.bourke@estatesgazette.com
To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.
