Rockwell has secured the Salvation Army’s 0.65 acre headquarters in Elephant and Castle for a reported £45m.
This disposal supports the Salvation Army’s relocation to its new headquarters in Denmark Hill.
Founder of Rockwell, Donal Mulryan said: “Elephant and Castle is undoubtedly one of the most exciting areas in London and the Salvation Army headquarters is an exceptional site which we’re delighted to be bringing forward. Rockwell has an absolute commitment to ensuring that local people benefit directly from each proposal and to working in partnership with local organisations to achieve this. I’m excited to begin work on a scheme which will have a positive impact on the lives of local people and the vibrancy of the town centre.”
Savills development director, Andrew Cox added: “Savills undertook an extensive marketing campaign that generated huge interest in this landmark site. The Salvation Army believe that Rockwell had sufficient vision and track record to deliver on the site.
“Elephant and Castle is undergoing significant regeneration. This sale clearly demonstrates the depth of the market in this part of south London and the improved confidence in the London land market.”
Savills has advised the Salvation Army on this transaction and Avison Young advised Rockwell.