Regeneration of Canada Water set to start in 2006 after British Land鈥檚 ten year agreement with Southwark Council is signed.
Southwark Council has signed a ten-year agreement with British Land to develop 40 acres of Canada Water in South London.
The council chose British Land鈥檚 joint venture with Canada Quays as the council鈥檚 preferred masterplanner and development partner in 2003. BL/Canada Quays will put forward a finalised masterplan in Summer 2005, and work is expected to start in early 2006.
The masterplan contains a library, leisure facilities, a department store and new public space around the Canada Water dock. There will also be 2,000 new homes and 100,000sq ft of new offices, business start-up and live-work space.
Councillor Richard Porter, executive member for Regeneration at Southwark Council said: 鈥淲e have now reached an agreement with BL/Canada Quays that will see Canada Water reach its true potential as a focal point for the Rotherhithe Peninsula and a major contributor to central London鈥檚 success.
