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Full Canada Water regeneration masterplan unveiled

02.08.2022

Property investors in the Surrey Quays and Canada Water area have been buoyed by the unveiling of the areas full master plan. Developer British Land has announced that they will deliver up to 3,000 net zero homes as part of its Canada Water scheme. The development will also be a net zero neighbourhood by 2030, the developer claimed, through using sustainable materials, heat sharing and an all-electric energy strategy. Included in the plans are office space for 20,000 workers, one million sq ft of leisure, cultural and education facilities, as well as 12 acres of new parks and squares.

About the Canada Water Masterplan

The Canada Water Masterplan is a 50:50 joint venture between British Land and AustralianSuper, working in partnership with Southwark Council to create a new town centre for London.

The Masterplan is a 53-acre, mixed-use scheme that will deliver around two million sq ft of workspace to accommodate approximately 20,000 jobs, around one million sq ft of retail, leisure, entertainment, education and community space, and around 3,000 new homes, of which 35% will be affordable.

With well being embedded into the masterplan, and buildings to support low carbon living, the project will also create 12 acres of new open space, including a 3.5-acre park, a new Town Square, the first new high street in London for 100 years and 16 new streets.

The Masterplan was granted permission in late 2019. In March 2022 British Land entered into a 50:50 joint venture with AustralianSuper, Australia’s biggest profit-to-member pension fund, providing additional funding to accelerate the major regeneration scheme, with Phase 1 expected to complete in Q3 2024.

Find out more about it: https://www.canadawater.co.uk/canada-water-masterplan?page=3

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