Developer and Investment Firm Purchase Final Plot in Elephant Park Development
In a groundbreaking move, a UK-based developer and a global investment firm have recently acquired the last remaining plot in the prestigious Elephant Park development for a staggering £42 million. This acquisition marks a significant milestone in the ongoing regeneration project led by Lendlease and Southwark council, aimed at revitalizing the Elephant and Castle community in Southwark, London.
Transforming the Landscape
Situated within the final phase of Lendlease’s 10-acre Elephant Park masterplan, the 1.2-acre site is poised to undergo a remarkable transformation into a cutting-edge mixed-use development. This innovative project will feature shared-living homes, ‘affordable’ housing options, and a vibrant new public realm, breathing new life into the heart of Southwark.
Robert Sloss, the chief executive at HUB, expressed his enthusiasm for this collaboration with H.I.G. in such a dynamic area of Southwark. He highlighted the intrinsic value of well-priced, centrally located living spaces with excellent amenities and a thriving local community. This partnership between HUB and HIG signifies a shared commitment to enhancing the urban landscape and fostering sustainable growth in the region.
A Vision of Progress
The Elephant Park regeneration initiative has already delivered close to 3,000 homes, marking a significant step towards the realization of a vibrant mixed-use destination. Angela Brennan, development management executive director for Lendlease, emphasized the pivotal role of this final plot in completing the vision for a dynamic community hub that benefits both existing residents and newcomers alike. The collaborative efforts of all stakeholders involved are poised to elevate the neighborhood and create a lasting impact on the local community.
As the construction commences on this transformative project, anticipation is high for the unveiling of the new development and the positive changes it will bring to the Elephant and Castle area. The acquisition of the £42 million plot by HUB and HIG sets the stage for a new chapter in the ongoing evolution of Elephant Park, promising a brighter future for all who call this vibrant community home.
