Croydon to sell five Brick by Brick sites following bankruptcy


Croydon Council is preparing to sell five plots of land that previously had to be built by developer Brick by Brick.

It is part of the board’s plan to recover some of the money given to the developer owned by the board.

The latest figures show the council expects the company to repay £ 139million of the £ 161million that has been loaned.

But that doesn’t include more than £ 70million loaned to the company for the Fairfield Halls project, which included the renovation of the ’60s arts venue.

Read more:Controversial ‘Purley skyscraper’ gets green light after 4 years delay

In February 2021, the board agreed that Brick by Brick would build 29 planned developments before closing.

In July, when six sites had not yet started operating, he voted to divest them.

But now the council has decided to keep one site, Belgrave and Grosvenor in South Norwood, which was supposed to be a 17-story tower with 102 apartments.

One report states: “In a subsequent review of the site based on the council’s potential future regeneration needs, it is best that this site is not sold immediately.

“It is therefore recommended that additional due diligence be carried out to assess other potential uses of the site rather than disposal. “



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But it will go ahead with the sale of five more sites in Croydon, including land for 11 apartments in Regina Road, South Norwood, space for nine apartments in Eagle Hill, Crystal Palace and space for nine apartments in Coombe. Road.

Keeping Belgrave and Grosvenor received the green light from the council cabinet on Monday.

At the meeting, the head of the board, Hamida Ali, said the developer did not have to use the £ 10million allowed in July.

At the meeting, the cabinet also discussed a new advisory board set up to improve the way Brick by Brick operates.

But Opposition Leader City Councilor Jason Perry called it “too little, too late.”

He said: “The fact that this council does not include any member of the opposition shows a contempt for opposition involvement, openness and transparency.

“You are putting together a new board of directors, but there is no challenge, no scrutiny, it’s just another disaster in the making. “



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The South London Newsletter comes out twice a day and sends you the latest stories straight to your inbox.

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But board chief Hamida Ali hit back, saying, “We have an outstanding loan at Brick by Brick and we should see a significant amount of money coming back to the board.

“It could not be more important to improve surveillance to ensure the delivery of nearly 800 housing units in this borough, of which a little more than half will be affordable.

‘From a taxpayer’s perspective and given the value to the taxpayer, it is expected that £ 139million versus £ 161million of total loan – it couldn’t be more important that we get this money back from a company in which we have a majority stake. .

“Any decision relating to Brick by Brick rests with the firm, the advisory board is not a decision-making body. “


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