British Land plans 1 million sq ft shopping and leisure space at Canada Water
London could get another giant shopping complex if property giant British Land’s plans go through with the company having just submitted a planning application for offices, homes and shopping/leisure space at Canada Water. But it would mean the demolition of the current Surrey Quays shopping centre.
The proposed shopping and leisure space would cover a million square feet and form part of what’s planned to be a £3 billion overhaul of the area.
Canada Water is currently a fairly rundown part of Southeast London, part of the old Docklands area that’s seeing development but still isn’t operating at its full potential. It’s in a crucial location near to the affluent parts of Docklands and fast-developing London Bridge and on the same railway line as Hoxton and Shoreditch. It has a large catchment area of Millennial office workers.
The 53-acre site British land wants to redevelop should also come with an in-built giant consumer base as the company also plans to build four giant office blocks there and 3,000 homes.
But rather than simply packing out the area with buildings, the plans also include two parks, three town squares, a sports centre, cinemas, a hotel and a wetland habitat - all of which should also generate significant tourist traffic.
It won’t be happening fast though. While the company wants work to start next year, the project isn’t expected to fully complete until 2033.
That’s assuming it happens, which looks likely as Southwark Council has signalled its commitment to the project by entering into a master development agreement with British Land.
The plan is being described as “one of London’s most significant development projects which will create a new urban centre for [the city].”
The development would happen in several phases with the first phase set to see 250,000 sq ft of retail and leisure space.
A decision on the planning application is expected by the end of the year.
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