British Land plc’s
proposal to build a new town centre at Canada Water between Bermondsey and
Rotherhithe in East London has received planning
approval from Southwark Council.
The development, which has
been designed to promote low carbon living, will cover 53 acres and provide 2m
sq ft of work space potentially providing 20,000 jobs and 1m sq ft of retail
and community space. There will be 3,000 new homes with 35% affordable, plus a
new town square, high street and public park.
The project will take 15
years to complete but the first phase is due to be ready by 2024.
Chris Grigg, Chief
Executive of British Land, said: “We have an incredible opportunity at
Canada Water to create a vibrant neighbourhood for people to live, work and
enjoy. We’re hugely excited about delivering this exceptional, mixed-use and
sustainable landmark development, which has been designed to support people’s
wellbeing. We thank the Council for all their hard-work and we look forward to continuing
to work with them and the local community.”
Canada Water has seen
extensive development since the 1980s, thanks largely to its location just
10-15 minutes by train or tube from central London and the City. This scheme seems likely
to achieve what previous schemes have not always achieved and give the area its
own sense of place.