About a third of Croydon's office stock is old and redundant. That's a quite a lot.
Jon Rouse, the council's well respected chief executive, reckons that anywhere between 20% and a third of the town's offices need to be razed or refurbished.
The council now has the unenviable task of trying to tackle this. Maybe Croydon is just being a bit more realistic and open about the size of its problem while other councils around the country are keen not to say it out loud.
Rouse reckons that getting rid of the stock is the only way to raise rents up to the £25-30 per sq ft level that makes development viable.
One option they are mulling is a land acquisition fund. Rouse talked to EG yesterday about this plan. Click below to hear what he said.
Related EGi stories (£)
1980s Croydon pic by satguru on Flickr
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