INDUSTRY NEWS

South London regeneration plans unveiled

Southwark Council has unveiled the second batch of its plans for the rejuvenation of a long-neglected part of London.

At a total cost of £1.5 billion, the local authority plans to regenerate Elephant and Castle in a bid to improve housing conditions for local residents in addition to encouraging the construction of commercial property in the area just south of the River Thames.

Having already outlined the general details of the proposals, the council has now confirmed that buildings around Library Street and New Kent Road will be the next to be demolished, with this second round of work expected to bring hundreds of new homes and some of the newest offices in London.

In a statement, Paul Noblet, the council’s executive member for regeneration, noted: “This is a very important milestone and shows that the council’s commitment to the regeneration of Elephant and Castle is as resolute as ever.”

Earlier this month, London mayor Boris Johnson announced that £77 million has been earmarked to assist commercial property investors rejuvenate some of the capital’s worst areas.
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