Developer signs deal to provide homes at Elephant

Mon 24 October 2011, 3:09 pm

Developer Lend Lease has signed a deal with Southwark Council which will see it build more than 300 homes on the site of the existing Elephant & Castle Leisure Centre.

The deal saw Lend Lease acquire a partly derelict site directly opposite the existing Elephant and Castle shopping centre. 

The developer said that it plans to deliver a landmark development comprising high quality homes plus retail space. 

Lend Lease Chief Executive Officer – EMEA, Dan Labbad, said: “We’re really excited about bringing high quality new homes to one of the best connected parts of London.  Zone one developments of this scale are very rare and this is a unique opportunity for Lend Lease.”

“Elephant and Castle has a fantastic future and we’re excited to be playing a part in its transformation.”

Councillor Fiona Colley, Southwark Council cabinet member for regeneration, said: "The regeneration of Elephant and Castle is coming on in leaps and bounds, and this new agreement will be a further step towards the vision for this central London location.”

The new development is separate to Lend Lease’s involvement on the Heygate Estate, for which it has launched a concept masterplan.