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Japanese house builder enters London market

Elephant Park

Japanese house builder enters London market

Construction & Build

Leading Japanese developer Daiwa House is working with Lendlease to build 259 homes at the Elephant and Castle regeneration site in London.

The JV firms will develop two new buildings at Elephant Park on plot 11b.

Its joint venture with Lendlease is the first time that Daiwa House has been involved in the development and sale of new homes in the United Kingdom.

Lendlease will develop and construct the new homes, which have an end value of £250m and retain a 25 per cent interest in the project, which will be the final stage of residential development at Elephant Park.

Both firms previously partnered on the delivery of a 41-storey mixed use building in Manhattan, and recently began work on a build-to-rent apartment development in Melbourne.

Lendlease’s European chief executive, Andrea Ruckstuhl, said: “This deal is a significant vote of confidence in the property market in the United Kingdom. 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.”

Residents of the new buildings will be able to enjoy a communal gym, elevated garden, SkyLounge, 24-hour concierge service and cycle storage. Residents are expected to be able to move in from mid-2026.

The President and Chief Executive Officer of Daiwa House, Mr. Keiichi Yoshii, said: “I am very excited right now. This is because this is Daiwa House’s first project in the UK. We would like to thank everyone involved, including Lendlease, for giving us this opportunity.”

Written by Aaron Morby at Construction Enquirer