A UK based developer and a global investment firm have jointly bought the final plot in Lendlease’s Elephant Park masterplan for £42million.
The 1.2-acre site sits within the final phase of Lendlease’s 10 acre Elephant Park regeneration project and will be turned into a mixed-use development with shared-living homes, ‘affordable’ homes and a new public realm.
The site, bought in an off-market deal by developer HUB and investment firm HIG, will be close to UAL London College of Communication, London Southbank University and Elephant & Castle railway station.
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.
“We remain great believers in the value of well-priced, central living with great transport, excellent amenity and a vibrant local community.”
The Elephant Park regeneration project, a joint venture between Lendlease and Southwark council, has already delivered nearly 3,000 homes.
Angela Brennan, development management executive director for Lendlease, said: “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.
“We’re looking forward to seeing the site come to life and everything it will add to the neighbourhood.”
Pictured top: The £42million plot in Lendlease’s Elephant Park which has been jointly bought by HUB and HIG (Picture: HUB)
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