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08.06.2015

Delancey celebrates topping out at Elephant road site

TODAY Delancey marked the topping out of construction at the Elephant Road site, the first phase in its regeneration of Elephant and Castle town centre. The team were joined by guests including the Mayor of Southwark, Councillor Dora Dixon-Fyle, development manager South Central Management, delivery partner Laing O’Rourke and local stakeholders.

This zone 1 destination will deliver, as a first phase, more than 370 high quality one, two and three-bedroom market rented homes. It is planned that these will be offered for rental with up to three year tenancies with no fees to pay. In excess of 270 student studios will also be created, alongside leisure and retail space at ground floor level, with the whole scheme open for business with residents moving in from autumn 2016. The project is funded by a joint venture between Delancey’s client fund DV4 and Europe’s largest pension fund asset manager, APG.

Delancey’s overall aim is to create a new town centre for Elephant and Castle in the form of a thriving destination and community hub, with excellent transport links, modern retail space, cultural and leisure uses and new homes for Londoners. Phase 2 of Delancey’s vision incorporates the proposed redevelopment of the Elephant and Castle shopping centre site. Designs are currently being prepared and will be consulted on over the summer.

Jamie Ritblat, CEO of Delancey commented: “Today’s topping out ceremony marks an important milestone for both our development and the wider regeneration of Elephant and Castle. We are very excited to be involved in the on-going story of the area and are committed to delivering a vibrant new town centre, which build upon Elephant and Castle’s culturally diverse foundations and central location.”

Ray O’Rourke, Chairman of Laing O’Rourke, said: “We are incredibly proud to be part of the regeneration of Elephant and Castle. Working with Delancey and Oakmayne from the early design stages we have used industry-leading offsite construction techniques that have allowed us to reach this milestone in record time. We look forward to taking the project to its final stages and progressing to handover in summer 2016 – providing Southwark residents and students with quality places to live.”