A big step was taken in Canada Water’s massive regeneration project this week when Southwark Council approved British Land’s ‘head of terms’ – the basis of an agreement which will enable the delivery of the 5.5m square-foot town centre development.
The huge £2 billion project covers three main sites: the former Harmsworth Quays printworks, the Surrey Quays Shopping Centre and the Mast Leisure Centre.
British Land and Southwark Council hope to create a new town centre at the site, with plans for “homes, retail, restaurants, offices, culture, leisure and potential higher education” facilities.
The head of terms agreement included a commitment to deliver 35 per cent affordable housing in the site, with the council also holding an option to buy the site’s social-rented homes.
The masterplan recommendations approved by the council also includes a site for a new leisure centre to replace the current Seven Islands Leisure Centre in Lower Road.
Councillor Mark Williams, Southwark cabinet member for regeneration and new homes, said: “Canada Water represents an enormous opportunity for the local community and Southwark as a whole. The heads of terms sets out how the council will achieve all of these aims, and subject to further negotiation a further report that will authorise exchange of contracts will be brought to cabinet in 2016 for final approval.”
Emma Cariaga, Project Director for the Canada Water Masterplan, said: “At Canada Water, we have a very exciting opportunity to deliver a major new town centre for the area alongside new homes, retail, restaurants, offices, culture, leisure and potential higher education uses set in a network of streets and open spaces including new parks.
“The agreement of the Heads of Terms is the next step in achieving that vision and we look forward to working with the London Borough of Southwark further on this exciting project.”
A new leisure centre to replace the Seven Islands Leisure Centre will be constructed as part of the Canada Water project.
The site proposed by Southwark Council Cabinet member for regeneration and new homes, Mark Williams, however has been criticised by green campaigners.
The site is located in a green patch of land at the western edge of the Surrey Quays Car Park.
Consultation with residents will open next month and will be available through Southwark Council’s planning portal at planbuild.southwark.gov.uk
The Council and the News are taking part in a pilot scheme to make planning applications more accessible to local residents.
To register and to search, comment and view information on planning applications, as well as get email alerts visit: www.southwark.gov.uk/planningregister You can also view current planning applications on Southwark Maps at http://www.southwark.gov.uk/info/200212/egovernment/1370/southwark_maps or by typing ‘Southwark Maps’ into a search engine.