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In addition, 550 new homes will be built, according to the plans.
The development is envisaged for Ruskin Square, and the plans have already been submitted to Croydon Council planners.
Ian Mason of Schroders, the asset management company, was quoted by the Croydon Advertiser as saying: “Ruskin Square is the centrepiece of East Croydon’s transformation into a new central business district.”
When the development is finished, it will feature a route through to Landsdowne Road and a new £20 million rail bridge across East Croydon Station.
Councillor Jason Perry, cabinet member for planning, conservation and climate change, said: “I expect all our masterplans to resemble jigsaws in which each piece contributes to the whole picture but allows for flexibility as to when the pieces are actually placed.
“What is important in today’s conditions is that each of the components of the plan can be delivered independently, but together they form a coordinated whole that takes Croydon forward in an exciting manner.”
The Centre for Cities urban research institute recently advised Croydon Council to attract big businesses to help the town’s economy stay strong and support small businesses in the area, the Croydon Guardian reported.
Between 1998 and 2008, Croydon lost 10,000 private-sector jobs, according to the newspaper. This contrasts with an increase of 14,000 public sector jobs.
London recently secured an agreement from the Treasury to commit £130 million a year to the capital’s economic development.
This figure is almost four times less than what the Treasury originally promised.
Editor’s notes: As of June 2023, a total of 2 million square feet of offices, shops, homes, and a new train station were earmarked for the scheme.
The 180,000-square-foot Building 1 (1 Ruskin Square aka 1RS) was completed in 2016 and was fully let to HMRC.
And the 330,000-square-foot Building 2 was due to be completed in 2023 after being fully pre-let to The Home Office.
Building Three is a 290,000-square-foot office building due for completion in 2024, and as of June 2023, pre-let deals were available.
4 Ruskin Square is the home of Boxpark Croydon which is a leisure and events space that offers street food, drinks and entertainment under one roof with its concept described as the “world’s first pop-up mall” by its owners.
As of July 2026, Building 3 Ruskin Square was yet to be developed and was available via pre-let. The circa 290,000-square-foot building to be developed adjacent to East Croydon train station offered large floorplates of circa 21,000 square feet and was being marketed by joint agents JLL and Savills.