The first new homes in the long-awaited regeneration of Elephant & Castle in Central London will go on sale to the general public next week.
One The Elephant, a development by Lend Lease, will provide 284 new homes ranging from studios to three-bedroom apartments in a 37-storey tower and four-storey pavilion. Prices for the first release start from £320,000 for a one-bedroom apartment.
Mark Dickinson, managing director of Lend Lease’s development business, said: “One The Elephant will be a spectacular landmark and the first major building block in the transformation of this quarter of Central London into a vibrant and exceptionally well-connected residential area.”
“Every home at One The Elephant will feature at least one private terrace or balcony. Many will enjoy commanding views over the London skyline including the Houses of Parliament, St Paul’s Cathedral and Canary Wharf. The apartment layouts will include open plan kitchens and living areas which optimise the views, space, natural light and ventilation.
“All 284 apartments will meet Code for Sustainable Homes Level 4. They will be 30% more energy efficient than current regulations require and 30% more water efficient than the current average.
“The homebuyers who live and invest in these homes will experience for themselves exactly why Lend Lease is one of the most trusted names globally in property and construction.”
One The Elephant’s zone 1 location makes it among the best-connected places in London. In addition to two tube lines (Bakerloo and Northern) there is a mainline train station and 28 bus routes. It is a six-minute tube journey to the City and 11 minutes to the West End.
Designed by Squire and Partners, One The Elephant will feature a façade comprising a palette of stone, glass and metal which uses the most advanced sustainable construction methods and materials.
The development will also provide a private reading garden for residents, a play area for the under 5’s and 7,000 sq ft of space for shops, restaurants and businesses at ground level. A new community leisure centre – including a 25m six-lane swimming pool – will open next door in 2014.
One The Elephant is the first major building block in the £1.5bn regeneration of the London Borough of Southwark, being developed by Lend Lease in partnership with Southwark Council. Last year Lend Lease submitted a planning application for the Heygate Masterplan, which is central to the Elephant & Castle regeneration. Over the next 15 years the regeneration will deliver approximately 2,700 new homes, shops, restaurants, community facilities and Central London’s largest new park in 70 years.
Lend Lease has built more than 3,500 homes in the UK. In addition to the regeneration of Elephant & Castle, Lend Lease is also delivering The International Quarter – the new £2bn commercial district at Stratford City in the Olympic Park which will include 350 new homes.