Developer Arrowcroft has given the long-running Croydon Gateway saga a twist by signing a deal that ought to make an arena in the town financially viable.
Arrowcroft has struck a deal with Clear Channel Entertainment, one of the biggest venue operators in Europe, to operate and manage Croydon Arena if the Arrowcroft scheme gets the nod.
The Arena is central to Arrowcroft’s proposals for the 3.2 ha Croydon Gateway site, adjacent to East Croydon railway station, which has been developed in partnership with Croydon council and arena promoter StadiVarios Croydon.
Clear Channel’s presence would allow the arena to be used as a sports facility and a venue for international rock and pop acts.
However, the site is owned by developer Stanhope, which has plans of its own. Last week it submitted a planning application for 93,000 m2 of office space, affordable housing and a car park for the site.
The council has said it was committed to an arena and could use compulsory purchase powers to secure the site.