16.05.18

Council hails new £4bn ‘masterplan’ for London borough regeneration

British Land has submitted plans for a £4bn development in south east London, it has revealed.

The plans outline a planning application for the Canada Water Masterplan, which the company says is one of London’s most significant development projects.

The planning application comes following four years of collaboration between the developers and Southwark Council, as well as extensive consultation with the local community.

Included in the proposals are a detailed planning application for the project’s first three buildings, which include workspace, a new leisure centre, and homes, of which 35% will be affordable. These three buildings would form part of the first phase of development, covering a total of 1.8 million square feet of mixed-use space, including 650 homes.

If given the go-ahead, construction on these first buildings will begin in spring 2019.

The wider masterplan is expected to deliver 3,000 new homes to the borough, along with one million square feet of retail, leisure entertainment and community space, which will include a proposed health and social infrastructure.

Cllr Peter John, leader of Southwark Council, said that it is “fantastic” to see the project moving forward.

He praised the development company for devising a plan that “will deliver what local people want to see, including a guaranteed 35% affordable housing split 70% social rent and 30% shared ownership in the first phase, new retail spaces and job opportunities, education and health facilities and a brand new leisure centre.”

Working alongside the council, British Land has committed to a Social Regeneration Charter, which John said will ensure that the lives of local residents are improved by the project.

Roger Madelin, the man responsible for the regeneration of Kings Cross, now head of Canada Water development at British Land, called the submission of the planning application an “important milestone” for the project.

He said: “We have worked closely with Southwark Council and the local community of Canada Water to achieve this important first step, and will continue to work with them to deliver a low carbon, energy efficient neighbourhood.

“We will put health and wellbeing at the heart of our plans to ensure the buildings and spaces we create encourage and support healthy lives.”

A decision on the planning application is expected by the end of the year and, if approved, will create around 20,000 jobs, including apprenticeships and training.

 

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