Elephant and Castle to benefit from commercial properties

Commercial property development is set to be part of the regeneration of London's Elephant and Castle region.

Some £1.5 million is to be spent improving housing conditions and encouraging the construction of commercial property in the area.

According to Southwark council, buildings around Library Street and New Kent Road will be the next to be demolished, with the second phase of work expected to bring hundreds of new homes and offices to the area just south of the Thames.

In a statement, Paul Noblet, the council's executive member for regeneration, said: "This is a very important milestone and shows that the council's commitment to the regeneration of Elephant and Castle is as resolute as ever."

Earlier this month, it was reported that London's East End is to benefit from a new £4.5 million commercial property development which will house the Metropolitan Works, a creative centre in February 2009.

The building has been designed for London Metropolitan University.