Lend Lease has begun the construction of the first 500 new homes in the regeneration of Elephant & Castle.
One The Elephant – a landmark 37-storey tower comprising 284 new homes started on site on Monday 1st July and Trafalgar Place – a 235-unit development on the site of the former Heygate Estate – will commence later this week.
The developments mark the latest major step in the £1.5bn regeneration of Elephant & Castle, which is being delivered by Lend Lease in partnership with Southwark Council. During the next 15 years the regeneration will provide approximately 3,000 new homes, shops, restaurants, community facilities as well as outstanding landscaped areas including Central London’s largest new park for 70 years.
Lend Lease is delivering the regeneration using our integrated property model, which capitalises on the company’s expertise across the whole property cycle. As well as funding and developing the homes, Lend Lease will also act as main contractor.
The first new homes at Elephant & Castle are scheduled for completion in the Autumn of 2015.
Pascal Mittermaier, Lend Lease’s Project Director, said: “Today is another decisive step in the continuing transformation of Elephant & Castle into one of the most vibrant, well-connected and desirable places to live in the capital.”
“The new homes at One The Elephant and Trafalgar Place will be some of the most sustainable and energy efficient places to live in Britain and will showcase the latest innovations and building practices. With energy-efficient lighting, heating and water recovery systems and better insulation and ventilation, the homes will be 30 per cent more energy efficient than current regulations require and use 30 per cent less water than the average London household.”
“The homebuyers who live and invest in these homes will experience for themselves exactly why Lend Lease is one of the most trusted names globally in property and construction.”
Cllr Peter John, Leader of Southwark Council, said: “We’ve been able to imagine the transformation of Elephant & Castle for some time, but it’s only now as work begins that local people will get a really clear picture of what a fantastic destination it is going to become. Work has already begun on our new leisure centre, and as we start to see new homes appear, our vision for Elephant & Castle will be there for all to see.”
Lend Lease has a 50-year track record of building and managing residential developments across the world. It has built thousands of homes in Britain, including 2,818 units at the London 2012 Athletes’ Village, and started selling homes in the capital directly to the public under its own brand earlier this year.
In addition to the regeneration of Elephant & Castle, Lend Lease is also delivering The International Quarter – the new £2 billion commercial district at Stratford City in the Olympic Park which will include 350 new homes.
To find out more about the homes at One The Elephant from our sales team, please click here, and for more information about homes at Trafalgar Place please visit www.trafalgarplace.com.
Source: www.onetheelephant.com 3. July 2013