Lendlease and CPPIB plough £85m into Elephant Park BTR

Lendlease and Canada Pension Plan Investment Board have agreed an £85m investment to build 123 build-to-rent homes at Elephant Park, in south London, SE1. The partners will each invest half of the funds, and Lendlease will develop, construct and manage the homes. It follows an £80m deal to build 118 BTR flats, announced earlier this year, with over 900 BTR homes now planned for the site. Victoria Quinlan, managing director for investment management Europe at Lendlease, said: “The investment demonstrates a vote of confidence not just in the build-to-rent sector in London, and the Elephant Park development, but in the attractiveness of the UK as a global investment destination.” Andrea Orlandi, managing director and head of real estate for Europe at CPP Investments, added that the partnership “seeks to identify further investment and regeneration development opportunities in the UK”. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette