£3bn of regeneration is creating London’s newest cluster of sky-high living
London is entering the age of the skyscraper and Southwark’s £3 billion regeneration is putting Elephant and Castle ahead of the herd with many new residential towers built, or being built there.
Elephant and Castle were once on the outskirts of Zone 1, but as the tower buildings move outwards from The City, Central London is spreading further south, creating great yield potentials for investors.
A shopping centre refurbishment and a new £20 million leisure centre, as well as 5,000 new homes by 2025, will prove that Elephant & Castle really is a central part of the capital city.
Exciting new projects across the borough are part of the reason Southwark had the third highest price increase in London last year. There was also an above average number of inwardly migrating people too.
Elephant and Castle’s new residential towers will add superb, modern, designer living in luxury apartments to this part of London. And with improvements underway to the already amazing transport links these properties are going to appeal to professional tenants looking for London living 10 minutes by Tube from the West End or Canary Wharf.
The property market is very buoyant in the Elephant, Southwark as a borough saw property prices rise by 21.1% last year, which was the third highest of all the London boroughs. The massive regeneration and investment underway have contributed to these price rises.
For more information download a free Elephant and Castle Property Investment Guide.
Economy & Employment
Professional services drive the local economy.
The area around Elephant and Castle house the offices of many major professional service firms. These include PricewaterhouseCoopers, Ernst & Young, Lawrence Graham and Norton Rose.
The press and publishing companies are also well represented in Southwark, with the head office of the Financial Times being in Southwark Bridge Road, IPC Magazines in Southwick Street and the Daily Mail and Evening Standard newspapers located at Surrey Quays.
More than 6,000 construction jobs will be created on Heygate alone and more than £3m will go towards local employment, training and apprenticeship opportunities.
South Bank Employers’ Group is a partnership of seventeen major organisations in South Bank, Waterloo and Blackfriars with a long-term commitment to improving the everyday experience of the area for employees, visitors and residents.
For more information download your free Elephant and Castle Property Investment Guide.
The Elephant and Castle Leisure Centre are currently undergoing a £20 million complete rebuild to incorporate a proposed six-lane 25m swimming pool, a teaching pool, a four court badminton sports hall, a new state of the art gym and indoor cycle studio, two exercise class/dance studios, a crèche and a café.
A £3bn regeneration programme in Elephant and Castle will create a new exciting destination for London over the next 15 years. The regeneration will include the creation of a new pedestrianised town centre, market square, 5,000 new and replacement homes, up to 450,000 square feet of retail space, an integrated public transport hub and new green spaces.
A huge development in the area is TWO FIFTY-ONE. This development right by Elephant and Castle tube station is set to be a 41 storey residential tower. Up to and including the 30th floor there will be studios, 1, 2 and 3 bedroom apartments and on the higher floors will be 42 exceptional apartments with views over central London.
Southwark is one of London’s most dynamic boroughs with 40% currently under regeneration. The council has already invested tens of millions of pounds into improving housing in the borough, by transforming post-war housing estates and bringing them up to modern-day standards.
Over the next three years, £1m of funds will be targeted at supporting local business to grow and expand. Improving local town centres and high streets through better street design, transport and shop front improvements in the borough.
Southwark borough has 73 primary schools, 18 secondary schools, 9 special schools 10 independent schools and 3 independent special schools. In the current regeneration of Elephant and Castle, more than £240m will be invested in education and culture.
Notable schools include St John’s Walworth CofE, Keyworth, John Ruskin and Michael Faraday all outstanding primary schools according to Ofsted. In terms of secondary schools: Globe Academy is good and Notre Dame RC Girls and St Saviour’s & St Olave’s CofE are both listed as outstanding.
Further Education: Lewisham Southwark College provides the FE in the borough. The college was formed from the merger of Lewisham College and Southwark College.
Higher Education: London South Bank University (LSBU) at its Elephant and Castle site has over 23,000 students and 1,700 staff. The Elephant is the location of the London College of Communication, formerly the London College of Printing, an internationally renowned dedicated college, part of University of the Arts London and on Peckham Road is the Camberwell College of Arts. King’s College London, has the largest university teaching hospital in Europe at Guy’s Hospital.
Shops & Leisure
Shopping & Dining: The Elephant and Castle Shopping Centre includes the usual high street brands, WHSmith, Boots, Superdrug and Iceland stores. The first floor has a very cosmopolitan feel with an assortment of Latin American, Caribbean and Polish shops, plus bingo and bowling. A new state of the art shopping centre is planned under the current regeneration project.
Sport & Culture: The new £20 million leisure centre was completed in 2015. It includes a 25m swimming pool, a teaching pool, a badminton sports hall, a new state of the art gym and indoor cycle studio, two exercise class/dance studios and more.
The Cinema Museum is a volunteer-run museum with screenings of classic cinema and a vast collection of cinema memorabilia. It is located in the old workhouse where Charlie Chaplin spent time as a child. In addition, Southwark houses the oldest theatres in London, so why not take in a show at the historic Globe.
Green Spaces: Southwark is one of the greenest boroughs in London, with 130 parks and open spaces there is much to offer. The regeneration projects have accounted for a further five green spaces to be created for residents.