House of Reeves furniture store is up for sale for £2.5million – Inside Croydon | NutSocia

Another part of the fabric of Croydon society may be facing major changes after 150 years, after the last decade of frustration and disappointment at the way the old town has run down.
EXCLUSIVELY from STEVEN DOWNES

In the heart of Croydon: the Reeves furniture showroom in the distance, the island site created after the 2011 riots (foreground) is now derelict

The House of Reeves furniture store, a mainstay of Croydon business for more than 150 years, has been put up for sale at a guide price of £2.5million.

The Old Town shop is so synonymous with Croydon that a tram stop has been named after it – Reeves Corner.

It became world famous in 2011 when arsonists set fire to one of the company’s buildings during the Croydon riots. The shocking images were featured on TV news around the world.

The Reeves family quickly reorganized their showrooms to trade from across the streetcar tracks. But the scene of the fire has been abandoned, ravaging the area, with attempts to clean it up repeatedly thwarted by the council’s planning department.

Global News: how the Reeves furniture store caught fire in August 2011

Trade remains strong, according to sources close to the Reeves deal.

But some shareholders have grown weary of the uncertainty and difficulties, and after a decade of frustration and disappointment at the way the area has deteriorated, have decided to sell the property for development.

A full-page advertisement by Wandsworth-based estate agent and auctioneer Barney Estates appeared in local papers last week, offering a “unique location in the heart of West Croydon, known as Reeves Corner”.

The ad states, “The site covers an area of ​​approximately 14,000 square feet and offers a variety of development opportunities, subject to appropriate building permits.”

Devastated: The effects of a night of riots 11 years ago have never been corrected

Interestingly, it goes on to say, “Existing tenants will stay on site for up to six months after completion.” This suggests a speculative attempt at sale, giving the furniture store time to relocate if successful.

Insiders suspect what is for sale is three separate lots, including the building currently occupied by furniture store House of Reeves.

The derelict site in the middle of the streets and tram tracks is 40 percent owned by the Reeves family and 60 percent by the Whitgift Foundation, and it is this property that is most likely to be sold. It is marketed separately by Barney Estates and is called, seemingly without irony, ‘The Icon Corner’.

Computer-generated images in the ad show a 100-meter-tall, Shard-like skyscraper on the site, measuring less than one-fifth of an acre. They give this site a target price of £2 million.

“The Whitgift Foundation has not received any real revenue from the property for 11 years,” the source said.

For sale: how the Reeves Corner website appears on the real estate agents’ website, with CGIs of possible mixed-use redevelopments

The source expressed some skepticism about whether the sale of any other part of the property will be successful “given all the shenanigans that have taken place with the council over the years.”

The dilapidated part of the site was put up for sale in 2021, apparently unsuccessfully.

Icon Corner, Reeves Corner and another nearby location are all included in an auction taking place this Thursday.

Barney Estates confirmed today that the property was first advertised last week and has attracted “quite a lot of interest” so far.

Her newspaper advert relates to an earlier planning application that was appealed after being rejected because of the proposed height of the development.

Barney Estates’ own website has two separate listings for the 114-120 Church Street property, a commercial and a residential building, and lists two different prices: £2m and £2.25m respectively, both lower than the amount stated in the newspaper advertisement.

The House of Reeves is Croydon’s oldest and largest furniture shop and has been in existence since 1867 when it was founded by Edwin Reeves in the same building where the shop is today.

Five generations: The family business is proud of its role in Croydon’s history

The company’s website states: “House of Reeves is still a family-owned furniture retailer, now in its fifth generation. There are no other businesses in the area that are still run daily by the direct descendants of the original family and we are one of the few independent furniture retailers in the South East.

“Few will have missed the sight of our adjacent sister store which was leveled during the August 2011 riots. This high profile event has spurred us on and we now have a fully refurbished, preserved store displaying a wide range of quality and affordable sofas, beds and furniture for the home.”

At Croydon reached out to Graham Reeves, one of the company’s directors, about the possible sale of the company’s longstanding headquarters, but he declined to comment.


About Insidecroydon

News, views and analysis about the people of Croydon, their lives and political times in London’s diverse and most populous borough. Based in Croydon and edited by Steven Downes. To contact us please email inside.croydon@btinternet.com

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