West Grove Land Lease

UK-based Lend Lease and international property agency Chestertons are opening up the luxury residential project West Grove to investors in Dubai.

West Grove is phase two of the AED8.3bn ($2.25bn) Elephant and Castle regeneration initiative that will create 3,000 homes in London, with every suite apartment priced at AED2.2m ($598,949).

Chestertons will present the project details during an exhibition at Jumeirah Emirates Towers, which is taking place from 7 to 9 May.

Chestertons International residential developments global director Samuel Warren said: "We are bringing West Grove to Dubai, as we expect to see very strong interest in the scheme.

"This has to be the best investment opportunity in Zone 1 available this year and not only the very affordable pricing, but the great investment opportunity due to the scale of the Elephant Park regeneration."

West Grove was designed by Allford Hall Monaghan Morris and Panter Hudspith Architects. The complex houses 593 suites, as well as one, two and three-bedroom apartments built across eight buildings.

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The development comprises mid-rise mansion buildings and towers with five to 31 storeys. The tallest tower planned for Elephant Park is The Highwood.

"This has to be the best investment opportunity in Zone 1 available this year."

Lend Lease project director for Elephant and Castle Rob Heasman said: "The launch of West Grove marks another major step in our delivery of one of the most sought-after and sustainable new places to live with the convenience Central London’s Zone 1.

"With the significant sales success of the previous phase at Elephant Park, we expect buying interest at West Grove to be equally strong."

A newly built shopping street running through Elephant Park will be part of West Grove, providing independent shops, and cafés and bars.

"The West Grove apartments will act as a benchmark for sustainable living in the UK, with the homes being 30% more energy-efficient than current regulations require and which use 30% less water than the average London home," Samuel added.

Image: Elephant and Castle regeneration project in London, UK. Photo: courtesy of Lend Lease.