Lendlease is partnering with one of Japan’s largest home builders on a new residential scheme in central London.
The joint venture (JV) with Daiwa House will see 259 apartments built across two new buildings at Elephant Park, where wider development is already underway.
Elephant Park comprises thousands of new homes, alongside restaurants, cafes, business space and a park.
The new homes, which have an end value of £250 million that Lendlease will retain a 25 per cent interest in, will be the final stage of residential development at Elephant Park.
A communal gym, elevated garden, sky lounge, and cycle storage are also planned.
The partnership also marks Daiwa’s first development venture in the UK.
However, the pair previously also partnered on a 41-storey mixed-use building in Manhattan (US), and recently began work on a build-to-rent development in Melbourne (Aus).
Residents are expected to be able to move in from mid-2026.
“This deal is a significant vote of confidence in the property market in the United Kingdom,” said Lendlease’s European chief executive, Andrea Ruckstuhl. “We’re very pleased to be able to bring Japanese investment here and it’s another illustration of the desire that international investors have for high quality opportunities across our global pipeline of projects.”
Was this interesting? Try Cheshire civils business to appoint administrators
If you have a tip or story idea that fits with our publication, please contact the head of news email@example.com
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.