AUSTRALIAN developer Lendlease was yesterday granted detailed planning permission by Southwark council for the first phase of its £1.5bn regeneration of the Heygate estate in Elephant & Castle after winning approval for the masterplan last month.
The scheme has caused an outcry from critics after it emerged on Tuesday that Heygate was sold to Lendlease for just £50m even though the council spent £44m to move 3,000 residents from the estate.
Details of the sale were revealed after confidential information was accidentally revealed in a document on the council’s website. Local groups reacted saying the land was “sold off for peanuts”. The council rejected this, saying it will be sharing a slice of the profits from the sale of houses on the estate.