British Land Submits Plans for £4 Billion regeneration of Canada Water

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The huge 53 acre regeneration would include a new high street, town centre, leisure centre and 3000 homes.

Following four years of consultation with Southwark Council, a bumper outline application has been submitted for the 21ha site, which comprises up to 3,000 homes, 40 new buildings, three clusters of high-rise towers and a new town centre ‘the size of Leicester Square’.

British Land’s Roger Madelin, head of the Canada Water development, said the area – currently home to a popular sprawling shopping centre and car park, a cinema and a bowling alley – would be transformed into a new ‘urban centre’.

‘Drawing on our experience of creating vibrant, mixed-use places across the capital, this major urban centre at Canada Water will provide an exciting place to live, work and visit, delivering high-quality design, active spaces and significant economic and social benefits for the local community,’ he said.

Madelin, former head of Argent’s King’s Cross regeneration, added: ‘To have one ownership and an opportunity for vacant possession somewhere that is policy compliant and well connected is extraordinary. I never thought there would be another one after King’s Cross, and here there is.’

Describing his regeneration vision, Madelin said he envisaged Canada Water becoming an area where Londoners would be able to take an Italian-style passeggiata – an early evening stroll – around the dock and public squares.

‘Our aim is to make this part of London the place where more people propose than any other part of London,’ he said.

Madelin also said the scheme would seek to meet a broad range of demands for different housing tenures, from affordable homes to supported housing, rental units and co-living.

‘Out of our 3,000 apartments, there aren’t actually that many £1 million two-bed apartments that we have [available] to sell. That product is not what it used to be five years ago.’

Subject to planning approval, construction of the first buildings will begin in spring 2019 with the entire scheme expected to completed by 2033.