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Last edited 16 Mar 2017
Elephant and Castle redevelopment
Real estate developers Delancey’s client fund DV4, together with Europe’s largest pension fund asset manager APG, are working to progress the project that they hope, if approved, will bring a cultural and commercial focal point to the area.
Architecture and urban planning practice Allies and Morrison have proposed a ‘must-visit’ town centre masterplan that will redevelop the existing Elephant and Castle Shopping Centre to include a combination of national and independent London-based shops, bars, cafés, restaurants and 12 innovation units for start-up businesses.
This will be interspersed between 108,000 sq. ft of accessible public space facilitated by wider walkways and a new tube entrance and ticket hall. An integrated campus for the London College of Communication, a 1,000-seat multi-screen cinema and a small grass-roots music venue also feature in the masterplan.
As well as aiming to become a shopping and leisure destination, the project will provide for 1,000 new homes which the developers say ‘...will be priced for a wide range of local earning levels’. The majority will be available to let on a long-term basis through Get Living London, the manager of over 3,000 homes at East Village.
The town centre redevelopment is the centrepiece of a £3 billion regeneration currently underway in the area and is integral to Southwark’s wider plans. These include the creation of a new pedestrianised town centre, a brand new park, 5,000 new and replacement homes, approximately 450,000 sq. ft of retail and leisure space, and an integrated public transport hub.
Jamie Ritblat, on behalf of Delancey, DV4 and APG commented:
“Our ambition is to create a new and improved town centre for Elephant and Castle; one which complements, celebrates and builds upon the existing diversity and vibrancy that this key Zone 1 location is already so renowned for.
“Over the last 3 years we have been in ongoing discussions with key local stakeholders, the public and our partners at UAL in order to ensure we put culture, art, education and – most importantly - the needs of the local community, at the heart of our plans. We are confident that these proposals reflect this and look forward to receiving further feedback to help us deliver this vision.”
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Images and content courtesy of Redwood Consulting.
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