£200,000 for extra support for traders at Elephant and Castle Shopping Centre announced

29 January 2020

Southwark Council has pledged £200,000 to provide additional support to traders affected by the re-development plans at the Elephant and Castle Shopping Centre.

Following the announcement that the centre will close this summer, the council has agreed the funding in addition to the funds already made available by developers Delancey for direct relocation - which they have said could be increased and the council expect to have more information on that shortly.
The council will be speaking to traders individually, and through the Trader Panel, to find out the best way this new fund can be used to help those traders still struggling during this time of change.

The council’s fund will operate separately from the existing relocation funding from Delancey, which traders will still able to access alongside business support from Tree Shepherd and a database of available retail properties to help with their search for a new site.

Cllr Johnson Situ, Cabinet Member for Growth, Development and Planning, said: “We know this is an anxious time for traders and the council wants to make sure it is offering whatever support it can to help them find and move into new premises in and around the Elephant and Castle area. Many businesses have already been offered an affordable unit nearby but others are still worried about the future.

“The benefits of the centre’s re-development are clear – a much-needed new ticket hall for the Northern Line, a new home for the London college of Communication and new open spaces, retail, culture and leisure facilities to bring people to the area and new homes including 116 homes at social rents.

“We are committed to ensuring the benefits of the new development will not be at the expense of the traders who have made the centre their home. We want to enhance and complement the vibrant and diverse culture of Elephant and Castle, not diminish it.

“This new funding will help us continue to work with, and support, the current traders, and the rest of the local community, to make sure everyone can benefit from these changes and no one is left behind.”

The details of the offer will be finalised by Cabinet in March.

Page last updated: 29 January 2020