The first new Lend Lease homes at Elephant & Castle are expected to go on sale early next year.

The developer submitted a detailed planning application last month for 284 units in the 37-storey St Mary’s tower at the south London site.

A total of 2,800 homes will be built at Elephant and Castle over the next decade and Lend Lease also has 350 residential units at The International Quarter in Stratford.

The company said it is looking for new development opportunities in the capital.

Dan Labbad, Lend Lease’s Chief Executive in Europe, said: “There is an acute shortage of new homes in London and we believe that we have the capability to take advantage of a unique market opportunity.

“We will be building on our residential track record and those who buy homes from us will experience for themselves exactly why Lend Lease is one of the most trusted names globally in property and construction.”