Lewisham buys Catford

Lex Luthor: Miss Teschmacher, when I was six years old my father said to me...
Miss Teschmacher: "Get out."
Lex Luthor: Ha ha. Before that. He said, "Son, stocks may rise and fall, utilities and transportation systems may collapse. People are no damn good, but they will always need land and they'll pay through the nose to get it!

We are now all the proud owners of a giant plastic cat. Lewisham Council has bought Catford shopping centre in an effort to kick-start the area's wider regeneration.

Cllr Walton has forwarded us this announcement from Lewisham Council and explains:

"Essentially Lewisham has bought a shopping centre to make much needed regeneration of Catford Town centre much easier.This had all party support at full Council last week. It is not without risks - but I believe these were properly explained and managed."

The statement reads:

Lewisham Council has today exchanged contracts in a deal that moves the renewal ofCatford town centre a major step forward.The deal will see the ownership of freehold and leasehold interests in and around the Catford Centre transfer from current owners, St Modwen Investments, to a wholly owned companyset up by the Council to be called Catford Regeneration Partnership Limited (CRPL).

Catford Town Centre is one of the key areas within the borough with significant potential for regeneration. With this purchase of local land interests, the Council is opening the door toregeneration projects, improving its ability to influence future plans. Deputy Mayor of Lewisham Heidi Alexander said:

"The Council's vision for Catford is as alively, attractive town centre. Buying these land interests in the Catford Centre is a once in a lifetime opportunity that puts the Council in a much, much stronger position to shape the future of Catford. This is great news for Catford and for local people."

Catford Regeneration Partnership Limited will be responsible for managing the shopping centre and kick-starting a regeneration programme for the town centre by attracting investment from the private sector.

To view the Catford Town Centre Area Action Plan, go to www.lewisham.gov.uk and type'catford plan' in the search box.