London Mayor gives the green light on £2bn plan for Elephant & Castle redevelopment

The approval clears the way for developer Delancey’s plans to replace the once iconic shopping centre with a new town centre-style scheme with new homes, shops, a new university college and a new Northern Line station.

Designs by architects Allies & Morrison include a 35-storey tower, plus c.175,000 square feet of retail and restaurant space. 35% of residential will be affordable units.

Demolition of the existing shopping centre in Southwark is now expected to get underway in the new year.

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£40m for Mayfair mansion

 

10 Stanhope Gate is in the heart of Mayfair, close to Hyde Park, the Dorchester Hotel, and near Mayfair’s most important streets and amenities.

Originally offered with a price tag of £50m, property research group Prime Resi are reporting that this Georgian mansion has sold for in excess of £40m thus brushing off Brexit related market anxiety.

The property is on six storeys – with all floors, from lower ground to roof terrace, connected by both stairs and passenger lift and has completely been refitted at a cost of £4.5m.  Depending on whether this is a first or second home for the new buyer, the stamp duty land tax on this acquisition will be £5m or £6m.

 

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