AUSTRALIAN property giant Lend Lease has won planning consent for a £1.5bn regeneration scheme in London’s Elephant & Castle area.
Southwark Council yesterday approved the scheme, which aims to create 2,500 new homes, shops, restaurants and community facilities by 2025.
Lend Lease said the development will create over 5,000 new jobs and the largest new park in central London in over 70 years.
The news also comes three months after Lend Lease was given the go-ahead for a 37 storey residential tower, One The Elephant, in Elephant & Castle.
Meanwhile Legal & General also announced it had been granted planning consent by Westminster council for its West End office and residential developments at Hanover Square in Mayfair and Wardour Street in Soho.