Developer Lend Lease Group
(ASX:LLC) has signed an agreement with the London Borough of Southwark for the $2.7 billion regeneration of urban project Elephant and Castle.
The 15 year project comprises of over 300,000 square meters of new build near London’s West End.Detailed planning for the first phase is expected to be complete by 2011, with work on the site due to start in 2014.
CEO Steve McCann says Elephant and Castle is a major urban, mixed use regeneration project, and that the company is looking forward to strengthening their position in the UK market.
Lend Lease Group reported a loss of $653.6 million for the year ending 30 June 2009.
