Lend Lease Agreement Lapses

The exclusive agreement between Southwark Council and the Australian development firm Lend Lease Inc, for the Elephant and Castle redevelopment lapsed this week - without an agreement. 

In South London Press: Elephant and Castle Revamp In Doubt

And London SE1: London Recession Is a 'Huge Setback' Admits Council as Lend Lease Deal Stalls

 

Southwark Council admits that the recession has made a deal 'more difficult' but is confident that the economy will pick up 'in the medium term' and a deal can be reached. 

If it does fall through, it will be the second time a deal has fallen through. In March, 2002, Southwark Land Regeneration (SLR) also failed to reach an agreement with the council. 

   In the meantime, whither all those empty buildings? Will they be demolished this summer, as scheduled? What then? 

   I wonder if the Heygate will become one vast squatter's paradise in the year (or years) to come . . .