Southwark council last night ended its relationship with Southwark Land Regeneration (SLR), its partner in the Elephant & Castle redevelopment.
SLR and the council have repeatedly failed to agree on commercial and financial terms for the £1.5bn south London scheme.
Bob Coomber, Southwark council’s chief executive, said: “It is regrettable that SLR are unable to continue to work with us.”
He added that the council would not abandon the regeneration of the area, and that the search for a development partner would begin shortly after the local elections in May 2002.
SLR, a consortium led by Godrey Bradman’s European Land and Frogmore Estates, was chosen from a shortlist that also included Land Securities, London & Amsterdam and Countryside Properties
SLR’s plans (pictured) for the 72.85ha (180-acre) site envisaged a 1m sq ft (92,900 sq m) retail & leisure complex, 500,000 sq ft (46,450 sq m) of offices and a hotel.
The plans centred on a transport interchange designed by Norman Foster and also entailed 3,200 homes for sale and 1,100 affordable rented flats.
EGi News 10/04/02
