A build-to-rent specialist has secured a development loan that will enable it to plough on with the transformation of the former Elephant and Castle shopping centre in south London.
Get Living has received £365 million from Starwood Capital in what is thought to be one of the UK’s biggest development loans in the past year.
The loan facility, which has a five-year term, enables the second phase of the redevelopment, which will deliver 485 homes, 172 of which will be affordable. Construction is expected to start in the first quarter of this year.
The first phase of the project, Elephant Central, was completed in 2017. The third and final phase of the plans includes a new campus for UAL’s London College of Communication alongside an