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Canada Water

£4bn plan for London’s first new high street in 100 years

London’s first new high street in a century has been given the go-ahead by councillors in Southwark.

The £4 billion plan will create a new town centre at Canada Water in Rotherhithe, on a site that includes Surrey Quays and the former Dock Offices courtyard.

The project will create around 3,000 new homes – of those, 35 percent will be affordable.

Acres of open space

The new town centre will also include 2 million square feet of workspace for up to 20,000 jobs, and around 1 million square feet of shopping, entertainment, leisure, community and education space.

With around 12 acres of open space, the new Canada Water town centre will also include its own town square, 16 new streets and a 3.5 acre park.

Thousands of new homes

Peter John, leader of Southwark Council, said: “We are delighted that this major step towards our vision for Canada Water has been approved.

“The masterplan provides the blueprint for an exciting new town centre that will provide thousands of new homes, particularly hundreds of new social rent homes, new jobs and opportunities, new open spaces and a brand new leisure centre for Rotherhithe in the first phase of the work.”

Improved transport links in the area will mean increased capacity at Surrey Quays and tow new bus routes.

About the Author Frances Traynor

Fran is the content writer for Capital Conveyancing, producing articles on all aspects of the conveyancing process and around the UK property market in general. If there is a topic you'd like to see covered on these pages, please drop Fran a line on [email protected]