All go at the Elephant

Quite a few stories circulatting at the moment regarding the Elephant and Castle, all positive too, which is something that hasn’t been said too often in the past.

Firstly an article in todays Times titled ‘The High Life in Elephant & Castle’. In it it asks whether the newly built Strata will be a symbol of hope and says it could be the making of one of the capital’s most deprived areas.

The Strata building which some apparently now are calling ‘The Razor’, really? do we have to? is now very nearly complete. The Guardian has an interesting story (link) on the buildings green credentials, which states that the wind turbines blades are due on site next week and will be winched into place in early April. When that does happen it will become the world’s first building with wind turbines built into it’s fabric, the fact that they will provide just 8% of the buildings electricty needs, is a little bit less fantastic. They also have some really good photos of the scheme here, some of them shown below. 


elephant 1.JPGIn other news, the redevelopment of the tatty and outdated (still a huge understatement) shopping centre could take place earlier than planned. Southwark, St Modwen and Lend Lease are currently discussing how to bring it forward after it got pushed back to phase 6 in last years revised regeneration programme. The operative word here though is ‘could’, these three have been talking for years… (the story in full)

I’ve saved the best till last however, with the news that the Heygate Estate is finally going under the wrecking ball, with demolition works recently getting underway. According to the Rodney Road and Wingrave blocks are now vacant and will form phase one of the demolition. They say the removal and salvage of flat contents, vermin baiting and a hygiene sweep is already in progress. Banners have also been erected on empty blocks to advise the very last staggling residents that demolition is now underway.

I’ll leave you with this photo taken from the 19th floor of Strata, looking out onto the Heygate Estate. The average price for residential units is £500,000 with just a few out of the 310 private units still left to go. One of those though is the the top floor penthouse still on the market for £2,500,000. I think the price tag merits a better view than this, although hopefully the view won’t hang around for too long now.


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About Paul Wellman

Follow Paul for commentary and updates on the London Residential Market on twitter here @PaulWellman_EG

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