Elephant Park - H1 Plot Sale
- 2 Dec 2024
Today (2 December) we announced the sale of the final plot at Elephant Park to HUB and H.I.G – who are a developer and a global alternative investment firm respectively.
They’ve taken ownership of our final plot for £42m and are planning to deliver a mixed-use development that will include shared-living homes, affordable homes, new public realm, ground floor retail provision, and a health hub. We believe this is the best way to bring forward the final plot of land and Hub will now be working closely with Southwark Council on the specifics of their plans.
It’s another example of how we’re bringing our development projects forward through partnerships and with other investors; as part of a strategy that’s been underway across our European business for some time.
Robert Sloss, Chief Executive at HUB, said: “We are delighted to be working with H.I.G. again in such a vibrant part of Southwark and to have the chance to add to the Elephant Park regeneration success. Lendlease has created a great legacy for HUB to deliver the next phase of the neighbourhood and we intend to be first class custodians of the site and neighbourhood. This acquisition continues our Central London, ultra urban living strategy and is the fifth asset in this portfolio, giving us a fantastic opportunity to show that alternative housing can support positive regeneration in central London and play its part in alleviating the UK’s housing shortage. We remain great believers in the value of well-priced, central living with great transport, excellent amenity and a vibrant local community.”
Nearly 3,000 homes have already been developed at Elephant Park including affordable, build-to-rent and market sale, as well as a two-acre public park and a net zero carbon district heating network. There’s now over 50 retail and leisure units as well as community spaces and a popular weekend food and craft market.
Angela Brennan
“At Elephant Park we’ve been working in partnership with Southwark Council to deliver a major regeneration of the area for over a decade. The transformation of this plot will complete our vision of a vibrant mixed-use destination that benefits the existing Elephant and Castle community as well as new residents and visitors.
“It brings further options for housing and a new health hub as well as adding to the existing retail offer that Elephant Park has become known for. We’re looking forward to seeing the site come to life and everything it will add to the neighbourhood.”