Evolve Estates has acquired 120,000 sq ft of retail and leisure space from Lendlease at Elephant Park, London, for an undisclosed price.
Elephant Park, which is located in the Elephant & Castle area of London, was delivered by development partners Lendlease and Southwark Council.
The retail, leisure and F&B space in the development is leased to a mix of national and independent operators, including The Gym Group, Simply Fresh, Queer Comedy Club, The Book Elephant, Jumping Bean and Mabella.
Sebastian Macdonald-Hall, partner at Evolve, which is part of the commercial property and investment collective M Core, said: “We were attracted to Elephant Park’s scale and ambition. Lendlease has delivered a hugely successful regeneration project, creating new homes, offices, green spaces, and jobs. We want to build on this by working with local stakeholders to develop a thriving and diverse community.
“This is a significant acquisition for Evolve, demonstrating our ability to invest, manage and develop the retail and leisure proposition within one of London’s largest regeneration areas. We made 14 acquisitions in 2024, which form part of our growth plans. As a business, we will continue our growth trajectory for 2025, with further announcements coming soon.
“There is a high demand for space at Elephant Park, and we will soon announce exciting new operators building on the carefully curated tenant mix that blends local, independent, and national operators.”
Guy Thomas, head of retail and place assets at Lendlease, added: “Lendlease has led the Elephant Park journey for over a decade, starting with the creation of Artworks and evolving it into the vibrant destination it is today. Its development is a source of great pride for the team, as we created a thriving community hub in zone one, made possible by the exceptional local and national businesses that now call Elephant Park home. While Lendlease retains its holdings in the area, we look forward to seeing Elephant Park’s commercial ground floor flourish under Evolve’s ownership.”
CBRE acted for Lendlease, and Hampson Wall represented Evolve.
