Qatar-backed venture gets approval for Elephant & Castle scheme
A venture backed by Qatar’s sovereign wealth fund has been given the go-ahead for a contentious project to build almost 1,000 homes in London’s Elephant and Castle district.
Southwark council approved the plan late on 3 July. The development will replace a shopping centre with apartment blocks, a university campus and shops.
The Qatari fund and its development partner Delancey won approval from the council after its earlier plan was rejected. The revised plan includes more affordable homes and allocates 10% of retail space on "affordable" terms.
Out of 979 new homes there will be 116 socially-rented properties compared with just 33 in the original plan for the 35-storey tower block.
Protesters and some local councillors oppose the development, arguing it will squeeze out local people and traders, the BBC reported. Four councillors voted in line with the recommendation to approve the application subject to conditions, while three voted against and one abstained.
With several more stages to the process before the approval is made final, including sign-off by the Mayor of London, and a Government decision on whether or not the shopping centre should be given listed status. Councillor Rebecca Lury said she and colleagues would ask Sadiq Khan to put pressure on Delancey to improve its proposal.
"We need more social homes, to protect our vibrant trading community and secure a development which recognises the cultural and economic diversity of the area," the councillors said in a statement.
Elephant & Castle is a culturally and ethnically diverse neighbourhood in south east London. It has been the target for regeneration projects because of its good transport links and closeness to central London. Qatar and Delancey have already built property in the district through their Get Living venture.
Emad Megahed, representing local traders, said that tenants of the shopping centre still didn't have clarity about their future options, the LondonSE1 website reported, with the Elephant Amenity Network campaign welcoming the increase in social housing but warning that Delancey's adjustments to the scheme still did not entirely comply with planning policy.