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ANALYSIS
Owners split over Westfield's exclusive talks to redevelop Croydon shopping centre
AIB and RLAM were looking at alternatives for disposal and may now accelerate plans
Australian developer Westfield has long harboured ambitions to break into the Croydon market and is now in exclusive talks to become development partner on the Whitgift Centre in the south London suburb. But, as EG revealed last week, a row is breaking out over the long-awaited town centre redevelopment.
Tensions were exposed shortly after Westfield announced its exclusive talks, when one of the centre's owners issued an angry statement claiming that the Australian giant had been brought in behind its back (12 November, p37).
The story goes to the heart of the problem Westfield must solve if it is to secure a coveted foothold in Croydon's underserved town centre: how to gain a majority interest in Whitgift to drive forward a lucrative redevelopment
Westfield's exclusive position, understood to last for three years, extends to only one of Wliitgift's owners:...