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Revised Canada Water Masterplan Approved to Unlock Next Phase

  • constructnetuk
  • Mar 27
  • 1 min read

A revised masterplan for the Canada Water development has been approved by the Deputy Mayor of London, paving the way for the next phase of one of the capital’s largest regeneration schemes.


The updated plans, brought forward by British Land and AustralianSuper, include changes to building height and massing. These adjustments have been made in response to evolving regulations, as well as ongoing cost and viability pressures impacting the wider construction sector.


Affordable housing provision has also been revised, with 20% affordable homes planned for the next phase and a minimum of 9% across the entire development.


The approval clears the path for construction on the next phase to begin from 2027, maintaining momentum on the 53-acre scheme being delivered in partnership with Southwark Council.


Once complete, the Canada Water development will deliver up to:


  • 4,184 new homes

  • 2.5 million sq ft of workspace

  • 1 million sq ft of retail, leisure and cultural space

  • A 3.5-acre public park, town square and 16 new streets



The first phase has already delivered key elements including new workspace at Paper Yard, Dock Shed and Three Deal Porters, alongside 186 homes at The Founding and 79 affordable homes at 7 Roberts Close. The scheme has also introduced new restaurants and a leisure centre for the local community.


Developers say the approval provides critical certainty for progressing future phases, helping to unlock further housing delivery, employment space and infrastructure investment in the area.


Despite ongoing challenges across the London development market, the decision signals continued confidence in large-scale regeneration and reinforces Canada Water’s position as a major long-term growth location in the capital.



 
 
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