TLT has completed more than 100 leases for major housing association L&Q at Elephant Park, adding much-needed affordable housing to this mixed-use scheme in South London. Elephant Park is one of London’s largest regeneration schemes valued at circa £1.5bn pounds.
The two-acre park is the largest new green space in central London for 70 years and when completed, will be the UK’s first Climate Positive development.
L&Q, an existing client of TLT’s, instructed TLT to advise on the multi-million-pound leasehold purchase of 104 homes from Lendlease. The ten-year project will see L&Q purchase approximately a quarter of the total number of new homes at the park.
TLT was able to meet tight timescales despite the coronavirus pandemic, using a smooth transition to remote working and skeleton staff at its regional offices to support L&Q and complete the paperwork.
The project was led by partner Shazia Bashir, supported by legal assistant Hannah Smith.
Toby Bonner, director of project management and development (south region) at L&Q, said: “We are so pleased to have completed the next phase of Elephant Park making new affordable housing available at this exciting development. It’s been a real partnership between the different parties and TLT has made sure that nothing stood in the way of us completing everything on time.”
Shazia Bashir, Partner at TLT, said: “We were really pleased to be asked to support L&Q on all the real estate aspects of this transaction. Despite the constraints imposed by lockdown, we were able to keep things moving forward and completed on time. There is still a huge deficit in affordable housing in London and it’s great to see projects like this bringing more suitable housing onto the market.”