Major new property venture planned for London docklands

 
Major new property venture planned for London docklands (iStock)

A massive new property project is being planned for Canada Water in south-west London, adjacent to Surrey Quays. 

The area, which has been heavily redeveloped in recent years, is now set for the development of a whole new town centre by British Land.

It has been working with Southwark Council to establish a Master Development Agreement and has now submitted a planning application for the area that will be adjudicated on by the end of the year. 

If the scheme goes ahead, the first phase will see the construction of three buildings, featuring a million sq ft of workspace, 250,000 sq ft of retail space and 650 homes. 

This will be just the start of a project that could include 3,000 new homes, with more retail facilities, work spaces and parks. The 53-acre redevelopment will encompass the existing Surrey Quays Shopping Centre, as well as SE16 Printworks, the Dock Offices and the former Rotherhithe Police Station.

The scheme is expected to create around 20,000 jobs, including in the construction sector from the expected commencement date next year.

Head of Canada Water Development for British Land, Roger Madelin, said: “Submission of our planning application for the Canada Water Masterplan marks an important milestone in the delivery of this project.

"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."

The development of the area has seen a stretch of canal between Surrey Water and Canada Water become a focal point of new residential developments over the past few years. This process has been helped by a number of transport infrastructure improvements. 

Once only served by the Surrey Quays and Rotherhithe stations on the short East London line, the arrival of the Jubilee line brought an interchange station at Canada Water as well as a direct link to central London. This include a bus station.

The East London line has subsequently switched from being part of the Underground to being incorporated into the much wider Overground network.