Southwark Council and developer British Land have entered into a masterplan development agreement which will see the construction of new residential accommodation at Canada Water.

The project aims to deliver approximately 3,000 new homes, of which 35% will be affordable. An outline planning application has been submitted jointly between Southwark Council and British Land for the Canada Water Masterplan.

It is hoped that having undertaken four years of consultation with the local community will now lead to the creation a new urban centre for London.