Berkeley Homes is the first developer in Southwark to threaten to reduce the affordable housing in one of its schemes, since the onset of the Coronavirus crisis. Berkeley secured planning permission for the Malt St development, just off the Old Kent Rd, in June 2019, with a promise to build 40% affordable housing. Since then it has joined-up with Peabody, who had a smaller, neighbouring development on Nyes Wharf. Together the two sites will provide 1,569 new homes, with 40% affordable housing (359 at social rent and 222 shared-ownership), delivered by Peabody.[Read More]
The harsh reality of relocation for shopping centre traders
Law centre survey shows that nearly half of traders have nowhere to go
The Southwark Law Centre (SLC) has written to Southwark Council, detailing the shortcomings of the relocation of the independent traders from the Elephant & Castle shopping centre, prior to its demolition on 31 July 2020. The letter is supported by Latin Elephant and Up the Elephant, which includes the 35% Campaign.[Read More]
Shopping centre CPO - Southwark ploughs on regardless
Southwark exercises CPO powers to clear E&C shopping centre site for Delancey
Southwark Council is set to assume Compulsory Purchase Order (CPO) powers, on behalf of offshore developer Delancey, at its Cabinet meeting this Tues 7 April (postponed from 24 March). While this extraordinary move will strengthen Delancey’s hand in ongoing negotiations with various development stakeholders, such as TfL, and will relieve Delancey of funding risks, the scheme itself remains unchanged, delivering only 116 social rented units and displacing traders wholesale.
Council to remove last shopping centre traders using CPO powers
Southwark bails out Delancey by purchasing E&C shopping centre and LCC in order to override traders' and residents' legal rights.
In an extraordinary move Southwark Council is poised to ‘buy’ both the Elephant and Castle shopping centre and the London College of Communication from current owners, developer Delancey and the University of the Arts London (UAL). It is also excercising Compulsory Purchase Order (CPO) powers over the shopping centre site, on behalf of Delancey’s British Virgin Islands registered offshore subsidiary1.
According to Southwark, Delancey is not the developer, but rather the advisor to the so-called ‘Triangle Partnership’, which is a partnership between the Dutch pension fund APG; Qatari Diar and Door SLP (a joint venture involving Delancey’s DV4 offshore property fund). There are further partnerships within this Triangle, detailed in the Report: E&C CPO para 12. Southwark refer to the developer as Elephant & Castle Properties Co. Limited (“EC”) registered offshore in the BVI. We continue to refer to the developer by the commonly known name of ‘Delancey’. ↩