Office Space to form part of Elephant & Castle Development
Reported by Estates Gazette, the ┬ú1.5bn regeneration agreement between Southwark council and developer Lend Lease will encompass a 170 acre site, providing a mix of residential, retail and leisure facilities in addition to the new office space that will be generated by the scheme.
With the agreement being officially signed-off at Southwark councilΓÇÖs London Bridge offices, councillor Peter John explained to Estates Gazette stated that:
“Today is an historic moment for the future of Elephant and Castle. This signing paves the way to a transformation of this part of Southwark over the next 15 years, creating a new and exciting destination for London. I’m delighted to be working with our partner, Lend Lease, to develop an area with so much potential, to the benefit of local people and for all Londoners.”
Dan Labbad of developer Lend Lease added: “Lend Lease is delighted to be delivering the regeneration of Elephant and Castle. For us this is one of the major regeneration projects not just in the UK but around the world. It is not just about bricks and mortar. We are using property as a catalyst for a wholesale regeneration of the area. I have confidence in the partnership and I am looking forward to getting started on this project.”