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"It is five years since rival developers Westfield and Hammerson were brought together by Tory politicians Boris Johnson and Gavin Barwell in a shot-gun marriage of convenience over their conflicting plans for the Whitgift Centre and Centrale, sited opposite sides of North End [Road].
"Then, under the banner of the Croydon Partnership, the Hammersfield scheme was to include 2million sq ft of new shop space, 600 homes and 'destination' leisure facilities."
"... In February, Hammerson announced it would sell at least £400million of its interests in the shopping centres it already owns to help pay towards the Croydon development.
"And last month, Westfield bought a 3 per cent stake in Hammerson – around £135million-worth of shares – amid talk of 'leverage', which usually means a way of applying pressure on a company."
|The Curious Case of The Corruption That Didn't Happen|