Green light for Croydon property development
A new £140 million property development scheme slated for the London borough of Croydon has been approved.
The South London council gave the green light to the development at Wellesley Square, which will give a welcome boost to the availability of property for sale in Croydon.
According to MortgagesForBusiness.co.uk, the building has been designed to resemble a crocus, paying homage to etymological origins of the borough's name.
Croydon is believed to derive from the Anglo-Saxon word 'croh' - meaning crocus - which according to linguists suggests that the popular borough was once a centre for the collection of saffron.
In related news, an anonymous private purchaser has spent £96.6 million buying a retail and office building on Regents Street from Great Portland Estates.
The Central London property investment firm had purchased the site, located in the heart of the City of Westminster, for the much lower price of £53.7 million just three years ago.
Published 18th June, 2008
© 2008 Estates IT Limited
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