Controversial Elephant & Castle Redevelopment Approved

Plans to redevelop the Elephant & Castle Shopping Centre in Southwark have been approved by London Mayor Sadiq Khan.

Developers Delancey are planning a major £2bn investment over 10 years to replace the existing centre with a ‘new town centre’ consisting of new shops, around 1,000 flats and a new college campus.

The scheme has been fiercely opposed including by local residents who say the new scheme will contain only around 110 affordable properties – and by local independent businesses who are concerned that they will not be accommodated in the new development.

The Elephant & Castle Shopping Centre consists of dated if somewhat iconic 1960s buildings probably long overdue for redevelopment, with schemes having been proposed since at least 2010. However, what was originally a working class and immigrant community has become increasingly gentrified in recent years. So the development has caused some very significant questions to be asked about just how interested London and its politicians are in accommodating the city’s lower-income populations.

What is DealMakerz Prime?

In depth stories

Want to know the story behind Britain's latest property mogul? Why a company is going bust? Our coverage goes beyond run-of-the-mill news on key real estate issues.

High powered community

Our subscribers are made up of the most influential Founders and CEO's in UK property. Gain a competitive edge and get informed - read what they read.

Exclusive guest articles

Understand exactly what the most senior figures in UK property are thinking. Exclusive opinion articles from powerful real estate influencers that move markets.

Source London News Online
You might also like