Evolve Estates, part of the M Core investment collective, has acquired 120,000 sq ft of retail and leisure space at Elephant Park, a landmark regeneration project in London’s Elephant & Castle. The site, developed by Lendlease in collaboration with Southwark Council, is central to one of Zone 1’s largest mixed-use developments, which has introduced nearly 3,000 new homes alongside a wide array of public spaces.
A core feature of Elephant Park is its leisure offering, which includes a diverse mix of independent operators and national brands. Designed to create a vibrant community hub, the destination provides visitors with global cuisines, fitness options, cafés, bars, and entertainment venues. The development’s appeal has been strengthened by the recent addition of 12 brands, collectively occupying over 40,500 sq ft of prime space.
Notable new tenants include national names such as The Gym Group, Simply Fresh, and Heavenly Desserts, alongside independent businesses like The Qube, Queer Comedy Club, The Book Elephant, EP Cuts, Jumping Bean, Jack The Chipper, and Mabella. Together, these tenants add to the site’s focus on leisure and community engagement, offering a diverse array of experiences for visitors and residents alike.
Sebastian Macdonald-Hall, Partner at Evolve Estates, highlighted the acquisition’s significance:
“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.
“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.”
Located in Zone 1, Elephant Park benefits from exceptional connectivity through Elephant & Castle’s transport hub, which serves over 20 million passengers annually. This accessibility makes the area a draw for both residents and visitors, providing a steady stream of foot traffic for its retail and leisure offerings.
Guy Thomas, Head of Retail and Place Assets at Lendlease, reflected on the development’s journey:
“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 1, made possible by the exceptional local and national businesses that now call Elephant Park home. We look forward to seeing Elephant Park’s commercial ground floor flourish under Evolve’s ownership.”
Public spaces designed for community interaction are central to Elephant Park’s leisure focus. Green areas and gathering spots create opportunities for events and everyday use, enhancing the destination’s appeal as a lifestyle hub. The mix of local, independent, and national operators further supports the vision of a dynamic, inclusive environment for all visitors.
The deal was facilitated by CBRE, representing Lendlease, with Hampson Wall acting on behalf of Evolve Estates.
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