Lendlease has put the ground floor of Elephant Park up for sale as it looks to “release funds to support other projects”.
It means more than 50 retail units, as well as leisure and community space, across 100,000 square feet, are now on the market.
The developer has said retailers’ occupational terms won’t be affected by the sale.
Elephant Park is Lendlease’s £2.3 billion regeneration on the site of the former Heygate Estate in Elephant and Castle.
Guy Thomas, Head of Retail & Place Assets at Lendlease, said: “We’re incredibly proud of what has been achieved and believe a new owner for the ground floor retail units will be able to support their continued progress.
“It would also release capital that will help us realise the potential of some of our other projects and we’re excited by that prospect.”
The developer has said it aims to remain the manager of the retail spaces post-sale.
Lendlease has not specifically said which other projects it needs funds for. Thirteen separate projects, mainly in London, are listed on its website.
Warning over inadequate fire safety on block in Elephant and Castle that is just four years old
This includes the £3.5 billion Silvertown regeneration scheme where construction began earlier this year. It will see 6,500 homes, offices and leisure facilities built on a 60-acre Dockland site near the Thames Barrier.
Elsewhere on the Elephant Park site, Lendlease’s office block on the final plot, H1, is currently subject to a planning inquiry.
The planning inspector’s decision on whether to let the sixteen-storey building go ahead is expected within the next few weeks.
Lendlease’s Guy Thomas said: “Elephant Park has become a landmark neighbourhood in central London and demonstrates what’s possible if you actively pursue and support the local and independent operators that help create a great sense of community.”