Lend Lease eyes shopping-centre stake

Thu 14 March 2013, 3:39 pm

Lend Lease's plans to buy a stake in the Elephant & Castle Shopping Centre being slowed by concerns over the number of homes allowed in the mall's redevelopment.

Elephant & Castle: mall discussions

Last year, St Modwen launched a search for a joint-venture partner for its plans for a doubling of the centre’s retail space and the construction of up to 1,000 homes.

However, Lend Lease and Southwark Council now believe that 500 homes is more appropriate for the site, which has implications for the value of any stake in the redevelopment, website CoStar reported.

Southwark Council leader Peter John said the authority would only support a lower figure of new homes for the development.

Lend Lease is Southwark’s development partner for the £1.5 billion Heygate Estate regeneration programme, and has other major projects in the area.

<

Share

Latest News

London Bridge scores prize hat-trick

Architect Grimshaw, who designed the £1 billion redevelopment of London Bridge station, scooped the top prize at this year's New London…

By Natalie Vincent

Pride of Southwark

By Natalie Vincent

Southwark embraces art

By Natalie Vincent

Bermondsey election results in

By Natalie Vincent