Back to News
11 May 2000
Upholding the Urban Renaissance principles of the Urban Task Force, LAC intend to develop a scheme that will help tackle social exclusion and promote mixed, healthy and sustainable communities.
With 850,000 sq. ft of shopping and leisure facilities, a new four-star hotel and conference centre and over 3 million sq. ft of new offices and work space, LAC believe that the scheme will provide up to 20,000 permanent jobs. Over £400 million will be generated for investing in local community facilities in the area, including:
· £165 million on rebuilding or refurbishing over 2,700 existing homes
· £131 million on a new state-of-the-art public transport interchange
· £112 million on community projects including leisure and sports, parks, a swimming pool, a cultural and performing arts centre and a new library.
A key aim of the Masterplan is to reclaim the streets for people. New public spaces and a network of green lanes will put every resident within three minute's walk of a park
Ian Pearce, Chief Executive of London & Amsterdam, said:
"The Elephant & Castle has massive potential. Its brand name, special qualities and strategic location can make it one of the premier commercial centres in London.
"We intend to make it a traditional town centre with open, pedestrian-friendly city streets creating a busy and vibrant place for people to enjoy the new shopping and leisure facilities."
Alan Cherry, Chairman of Countryside Properties plc, commented:
"The creation of a new economic engine at the heart of a new Elephant & Castle will generate the funds that are needed to invest in significant improvements for the local community.
"Countryside Properties have worked with Southwark Council since 1983 and specialise in building and refurbishing affordable homes. We very much wish to continue that partnership and work with local people in developing new communities that are safe, secure, pleasant and friendly.
"All homes will be built to the highest standards with a commitment to good design. We will create more choice for residents through mixed tenure as part of our desire to create a sustainable community."
The Masterplan, developed by world-renowned architects Terry Farrell & Partners, seeks to meet Southwark's aspiration of creating 'a place where people want to be, but not like everywhere else'. Terry Farrell said:
"Our aim is to create a unique and distinctive district of London - a memorable destination in its own right. The unveiling of the Masterplan marks just the start of the process of remaking Elephant & Castle. We are all looking forward to the task of developing the plan with the Council and the community."
Commenting on the detailed design of the new heart, which has been worked up by Michael Hopkins and Partners, Sir Michael Hopkins said:
"This is a tremendous opportunity to regenerate the Elephant & Castle. Architecturally, the challenge is to create a place that is successful not only at a local level, but also at a city-wide, national and international level."
For further information, please contact Wyn Evans or Tom Arnold from DCA on 020 7813 3050. Issued on behalf of London Amsterdam Countryside by DCA.
Background Information
London Amsterdam Countryside is a joint venture company consisting of London & Amsterdam Developments Ltd, Countryside Properties Plc and ING Real Estate. It is one of three consortiums that have been shortlisted by the London Borough of Southwark to bid for the regeneration of London's Elephant & Castle area.
LAC's ten foundations for the new Elephant and Castle:
· A new heart - a car-free 'world' square, as big as Trafalgar Square
· A major new quality shopping centre of 850,000 sq. ft and a new four-star 250-bedroom hotel and conference centre
· Over 3 million sq. ft of new office and light industrial space
· A world first fully wired town centre and wired community
· Up to 20,000 new jobs
· £165m investment in new and refurbished homes of mixed tenures
· A major new state-of-the-art public transport interchange
· A new public library, leisure centre, community facilities and multi-screen cinema
· Reclaiming the streets as safer places for people
· A new central 'aerial park' and other new green spaces so that all residents will be within three minute's walk of a park
Back to News
Information correct as at 11/05/2000