Press Release : Wednesday 05 September 2007 : FIRST BASE SECURES PLANNING FOR MAJOR ELEPHANT & CASTLE SCHEME

FIRST BASE SECURES PLANNING FOR MAJOR ELEPHANT & CASTLE SCHEME

Urban regeneration developer, First Base, has taken another important step in the transformation of Elephant & Castle after receiving planning consent for a major new 44-storey tower designed by renowned architects, Rogers Stirk Harbour & Partners.

Proposals for a mixed-use residential scheme on the site of the Old London Park Hotel have been approved by Southwark Council, just a month after a separate First Base development, "Printworks", was given the go ahead. The news also follows the recent selection of First Base, as part of a consortium with Lend Lease and Oakmayne, as development partners for the overall £1.5bn masterplanned regeneration of Elephant & Castle.

Designed by Rogers Stirk Harbour & Partners (formerly known as the Richard Rogers Partnership), the scheme will deliver 470 new homes for London, ranging from affordable and social rent properties delivered under English Partnerships London-Wide Initiative, to high-end apartments, all with stunning views across the capital.

Elliot Lipton, Managing Director of First Base, comments, "Our aim with this scheme was to fuse great urban design with high density living, building a real sense of community. By combining a mix of tenures with new public facilities, retail space and landscaped gardens we hope to set a vibrant tone for future mixed-use development in the area."

"The regeneration of Elephant & Castle is a great opportunity in the long-term evolution of London and we're very excited to be working with Southwark Council to provide new homes, jobs and services for the community. The regeneration of the derelict London Park Hotel builds momentum for the implementation of the masterplan.

The demolition of the existing Old London Park Hotel will make way for a 44-storey iconic architectural structure with a new public square, cafes and a stunning new home for Southwark Playhouse. In the heart of the Elephant the 200-seat auditorium and a dedicated education space will allow the playhouse to continue its commitment to teaching and drama in the local area.

Cllr Richard Thomas, Southwark Council's executive member for regeneration, comments, "This is the beginning of a fantastic time for the area, as more and more innovative developments start to come through.

"In the coming years, Elephant and Castle will become a deserved jewel in central London's crown, but even at this early stage, local people are already seeing for themselves how their neighbourhood is improving. And securing a new home for the Southwark Playhouse is very important, because regeneration is as much about community resources as it is about buildings."

Architect Richard Rogers, or Rogers Stirk Harbour & Partners, an advocate of high-density living says the First Base formula – a mix of private, Key Worker and rented homes mirrors his own blueprint for inner city housing. He says, "Our brief was to create an elegant building that not just lifts the area but also improves the quality of life for its residents."

The site is currently owned by national regeneration agency English Partnerships. It is being developed by First Base as part of the London-Wide Initiative (LWI), a scheme managed by English Partnerships to deliver new, affordable homes for Key Workers across the capital. The LWI shared equity scheme makes homes more affordable for key workers on lower incomes by reducing home ownership costs as a percentage of monthly outgoings.

Steve Oakes, Area Director at English Partnerships, adds, "This is great news for Key Workers planning to buy their first home in London. We're now well on our way to delivering a sustainable neighbourhood that provides a range of housing tenures in an area set to become a prime residential location."


Press Release Wednesday 05 September 2007
FIRST BASE SECURES PLANNING FOR MAJOR ELEPHANT & CASTLE SCHEME Urban regeneration developer, First Base, has taken another important step in the transformation of Elephant & Castle after receiving planning consent for a major new 44-storey tower designed by renowned architects, Rogers Stirk Harbour & Partners. Proposals for a mixed-use residential scheme on the site of the Old London Park Hotel have been approved by Southwark Council, just a month after a separate First Base development, "Printworks", was given the go ahead. The news also follows the recent selection of First Base, as part of a consortium with Lend Lease and Oakmayne, as development partners for the overall £1.5bn masterplanned regeneration of Elephant & Castle. Designed by Rogers Stirk Harbour & Partners (formerly known as the Richard Rogers Partnership), the scheme will deliver 470 new homes for London, ranging from affordable and social rent properties delivered under English Partnerships London-Wide Initiative, to high-end apartments, all with stunning views across the capital. Elliot Lipton, Managing Director of First Base, comments, "Our aim with this scheme was to fuse great urban design with high density living, building a real sense of community. By combining a mix of tenures with new public facilities, retail space and landscaped gardens we hope to set a vibrant tone for future mixed-use development in the area." "The regeneration of Elephant & Castle is a great opportunity in the long-term evolution of London and we're very excited to be working with Southwark Council to provide new homes, jobs and services for the community. The regeneration of the derelict London Park Hotel builds momentum for the implementation of the masterplan. The demolition of the existing Old London Park Hotel will make way for a 44-storey iconic architectural structure with a new public square, cafes and a stunning new home for Southwark Playhouse. In the heart of the Elephant the 200-seat auditorium and a dedicated education space will allow the playhouse to continue its commitment to teaching and drama in the local area. Cllr Richard Thomas, Southwark Council's executive member for regeneration, comments, "This is the beginning of a fantastic time for the area, as more and more innovative developments start to come through. "In the coming years, Elephant and Castle will become a deserved jewel in central London's crown, but even at this early stage, local people are already seeing for themselves how their neighbourhood is improving. And securing a new home for the Southwark Playhouse is very important, because regeneration is as much about community resources as it is about buildings." Architect Richard Rogers, or Rogers Stirk Harbour & Partners, an advocate of high-density living says the First Base formula – a mix of private, Key Worker and rented homes mirrors his own blueprint for inner city housing. He says, "Our brief was to create an elegant building that not just lifts the area but also improves the quality of life for its residents." The site is currently owned by national regeneration agency English Partnerships. It is being developed by First Base as part of the London-Wide Initiative (LWI), a scheme managed by English Partnerships to deliver new, affordable homes for Key Workers across the capital. The LWI shared equity scheme makes homes more affordable for key workers on lower incomes by reducing home ownership costs as a percentage of monthly outgoings. Steve Oakes, Area Director at English Partnerships, adds, "This is great news for Key Workers planning to buy their first home in London. We're now well on our way to delivering a sustainable neighbourhood that provides a range of housing tenures in an area set to become a prime residential location."