Agreement over Elephant & Castle centre 'imminent'

Wed 5 December 2012, 4:37 pm

Regeneration specialist St Modwen has said it expects to reach a co-operation agreement over the redevelopment of the Elephant & Castle Shopping Centre in a matter of days.

The firm believes it will strike a deal with overall developer Lend Lease and Southwark Council by the end of 2012, Building magazine reported.

Building said St Modwen’s latest pipeline update suggested it would submit plans for a scheme that will provide up to 350,000 sq feet of retail and leisure space, as well as 1,000 new homes, towards the end of next year.

Development would be expected to start in late 2015, it added.