Mace and Essential Living have been awarded a contract to build the UK's largest private rental development, estimated to be worth more than £100m, in south London. The joint venture developer will build 462 residential units on the Newington Butts site in Elephant and Castle, which is owned by the Greater London Authority. More than a third of the new homes will be affordable, with Peabody Housing Trust appointed to manage 159 affordable shared ownership and 29 rental units. The tower, due to complete in 2017, will also feature communal areas including a seven-story terrace and a theatre, cafe and retail space.
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