Lend Lease has received detailed planning permission for the next phase in its £1.5bn regeneration of Elephant & Castle in central London.
Southwark Council has approved plans for 593 new homes – including a 31-storey tower – and 43,000 sq ft of new retail space at Elephant Park.
Named West Grove, this latest development represents the second phase of the Elephant Park masterplan and follows the launch of 360 homes, known as South Gardens, in the first phase earlier this year.
Lend Lease will build nearly 2,500 new homes on the site between now and 2025.
The retail offer will include up to 13 independent shops in West Grove, in addition to a new supermarket, up to nine high street shops along the Walworth Road and a restaurant on Walworth Square.
The homes will be positioned above new high street stores on Walworth Road, and above independent shops on the new central shopping street.
Homes are expected to go on sale early next year, with construction expected to start later in 2015.
Lend Lease project director Rob Heasman said: “As we seek to re-establish Elephant & Castle as London’s most exciting new place to live, this latest phase of new homes and retail space adds to the considerable momentum we are now building. With our focus now very much on delivery, these 600 homes, together with the creation of a brand new local shopping street represent our biggest phase to date.”
“With previous phases having seen very strong sales to date, we expect to see considerable interest from potential home buyers as West Grove comes to market next year.”
