London Mayor Sadiq Khan has approved the planning application for the £2bn redevelopment of the Elephant and Castle shopping centre in South London
The approval allows developer Delancey to go ahead with plans to replace the centre with a new town centre-style scheme with new homes, shops, leisure and a new university college.
Demolition of the existing Elephant and Castle shopping centre in Southwark is now expected to get underway in the New Year.
Councillor Johnson Situ, cabinet member for growth, development and planning, said: “We have always pushed for as much affordable housing as possible on this site and committed to do everything we can to support the existing traders. We welcome the Mayor’s decision and the enhancements announced by City Hall, which will mean increased support for traders.
“This is a complex scheme that will create a vibrant, new town centre, which is a key part of the wider regeneration of Elephant and Castle bringing new homes, jobs and opportunities to the area.
“We will continue to respond to the concerns raised by some local residents about aspects of the regeneration, and work with our residents, businesses, local councillors and Delancey to ensure the new development works for local people. For the businesses it has been agreed that 10% of the retail space across the sites will be affordable and Delancey has guaranteed a £634,000 tenant relocation fund to support traders. The council is currently working with traders on the principles that will inform this funding.
“In addition, the council itself will provide new affordable retail at Perronet House and Arch Street, in addition to the affordable space already being provided by Lendlease and Delancey’s phase one developments.
“We know this is still a very difficult time for people directly affected by this significant change and the council will continue to work with the businesses to support them and help them not just find a new home but also grow and thrive in it.”