A UK primarily based developer and a world funding agency have collectively purchased the ultimate plot in Lendlease’s Elephant Park masterplan for £42million.
The 1.2-acre website sits inside the last section of Lendlease’s 10 acre Elephant Park regeneration undertaking and can be changed into a mixed-use growth with shared-living properties, ‘reasonably priced’ properties and a brand new public realm.
The positioning, purchased in an off-market deal by developer HUB and funding agency HIG, can be near UAL London School of Communication, London Southbank College and Elephant & Fort railway station.
Robert Sloss, chief government at HUB, mentioned: “We’re delighted to be working with H.I.G. once more in such a vibrant a part of Southwark and to have the prospect so as to add to the Elephant Park regeneration success.
“We stay nice believers within the worth of well-priced, central residing with nice transport, wonderful amenity and a vibrant local people.”
The Elephant Park regeneration undertaking, a three way partnership between Lendlease and Southwark council, has already delivered almost 3,000 properties.
Angela Brennan, growth administration government director for Lendlease, mentioned: “The transformation of this plot will full our imaginative and prescient of a vibrant mixed-use vacation spot that advantages the prevailing Elephant and Fort neighborhood in addition to new residents and guests.
“We’re wanting ahead to seeing the positioning come to life and every little thing it can add to the neighbourhood.”
Pictured prime: The £42million plot in Lendlease’s Elephant Park which has been collectively purchased by HUB and HIG (Image: HUB)
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