Lend Lease Europe with the London Borough of Southwark Council have finalised the terms for the £1.5 billion regeneration of Elephant & Castle.

The 15 year project is one of the most significant schemes of its type in Europe, comprising over 300,000 square metres of new build, mixed-use development together with major infrastructure improvements and a range of enhanced community facilities. The location, within two miles of London's West End, is unrivalled for a development of this scale.


Outline planning for the masterplan along with detailed planning for the first phase is anticipated in 2011 with work on site anticipated to commence in 2014. Lend Lease will provide investment, development management, project management and construction services.

Steve McCann, CEO and Managing Director of Lend Lease, said: "Elephant & Castle is a major urban, mixed-use regeneration project. We are very pleased to partner with London Borough of Southwark in the development of this landmark project which further strengthens Lend Lease's position in the UK market."

(CD/KMcA)