Taberner House - Bridges Fund Management

    

    























 






    
	            
			    
    



		
		    

    
    
    





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Taberner House

Housing and commercial redevelopment of the old Croydon Town Hall

Investment Strategy

Property

Theme

Stronger Communities

Date of initial investment

December 2016

Bridges Executives

SImon Ringer
David Schelgel

Challenge: Economic opportunity is not evenly distributed across the UK, and the poorest communities are often more disadvantaged in terms of access to affordable accommodation and services.  But these challenges – underutilised property, unmet demand and underutilised local talent – also present opportunities for growth. In many of these ‘regeneration areas’, there is also the opportunity to build to higher sustainability standards, benefitting the environment and the well-being of those occupying in the property.

Investable solution: In the quest to find more and lower-cost accommodation for London’s ever-expanding population, efforts to regenerate Croydon – one of London’s most populous boroughs – are well underway. Bridges Property Alternatives Fund IV and regular joint venture partner HUB Group have acquired, off-market, an important brownfield site: Taberner House, the old Croydon town hall. The location benefits from excellent transfer links and is only five minutes’ walk from the new Westfield/Hammerson shopping centre and leisure scheme. Bridges plans to build a high-quality, residential-led development of approximately 500 units, plus 13,000 sq. ft. of commercial ground floor space.

Outcomes: The Taberner House projects presents a regeneration opportunity in a site previously considered unviable by investors due to the high levels of required affordable housing. Of the c. 500 units proposed to be built by Bridges, 30% will be made up of affordable housing. Environmental and sustainable initiatives are expected to be evaluated during the planning, design and construction stages and implemented subject to viability.