A mixed-use centre comprising 135,000 sq ft of retail, 90,000 sq ft of offices (in a building known as Hannibal House) and 90,000 sq ft of leisure facilities.
The Elephant & Castle Shopping Centre is situated at the heart of a wider regeneration area for this part of central London. The property is currently an income-producing asset which continues to be close to 100% let. Key Property Investments (the 50/50 joint venture between St. Modwen and Salhia) and Southwark Council are close to entering into an agreement which will facilitate the building's transformation. This agreement will sit alongside the partnership agreement the council already has in place with Lend Lease who will be redeveloping the adjoining council-owned 23-acre Heygate Estate. KPI, Southwark and Lend Lease are also entering into a Co-operation Agreement to work together to realise their joint aspirations for the wider Elephant & Castle Regeneration Area.
KPI is currently progressing its proposals for a new, transformed Elephant & Castle Shopping Centre with the ambition to secure improved shopping and leisure facilities, together with substantially enhanced public realm and new homes. The new scheme will retain the existing building structure but extend both out and above, creating a transformed centre entirely unrecognisable to that which currently exists today. Work is not anticipated to start on the redeveloped shopping centre before 2015.