British Land Co. PLC was granted approval by Southwark Council to develop 53 acres of land in Canada Water, London.
The mixed-use development will comprise around 2 million square feet of workspace; roughly 1 million square feet of retail, leisure, education and community space; and around 3,000 new homes, 35% of which will be affordable.
The project, expected to take 15 years to complete, will also create 12 acres of new open space, including a 3.5-acre park, a new Town Square, the first new high street in London in 100 years, and 16 new streets.
The 53-acre masterplan site includes Surrey Quays Shopping Centre, Surrey Quays Leisure Park, the Printworks and the former Dock Offices courtyard.
The planning permission also covers the delivery of the first three new buildings in the plan by around 2024. These buildings include 265 homes, a leisure center, new public spaces and 330,000 square feet of office space.
