Lend Lease lands London regeneration contract

International contractor Lend Lease has been appointed by London’s Southwark Council to work on the £1.5 billion (€1.8 billion) regeneration of Elephant & Castle in the UK capital.

Lend Lease will work with Southwark Council on the Heygate Estate masterplan, designed by UK architects Make, to create one of the largest new housing developments in the city.

Due for completion in 2025, the project will include 2,500 new homes, shops, restaurants and community facilities, and create 5,000 jobs and central London’s largest new park in 70 years.

The new neighbourhood will be a low carbon energy development.

“At the heart of everything we do is the desire to create a sustainable place to live. A truly sustainable environment needs to bring economic benefits, support business growth and local job creation,” said Mark Dickinson, managing director of Lend Lease’s development business in EMEA.

Lend Lease was also granted planning permission for One The Elephant, a 37-storey residential development of 284 homes, also located in the heart of Elephant and Castle, in November 2012. One The Elephant will be amongst the first new homes delivered in the project, and is scheduled for completion in 2016.