£100m loan to unlock £3bn Canada Water scheme

Aaron Morby 3 years ago

Homes England and British Land have agreed a deal which will see the Government’s housing agency provide a £100m loan for infrastructure works at the vast Canada Water scheme in South London.

Enabling works are underway at British Land’s 53 acre, mixed-use scheme in Southwark, which will deliver up to 3,000 homes.

The Homes England funding will enable British Land to accelerate residential elements of its scheme by around three years.

Also British Land confirmed today that first phase building contracts will be placed with firms over the next few months.

Kier, Laing O’Rourke, Mace and Wates are understood to have been among the firms in talks with British Land to deliver the first three buildings on the 5m sq ft scheme.

First Phase 1 buildings at Canada Water

  • Plot K1 – a building solely for 79 affordable homes.
  • K1 plot plan for affordable housing designed by architect Morris + Company

  • Plot A1 – a 270,000 sq ft build for 186 homes
  • Adjacent to Canada Water station, plot A will consist of a 5-storey podium and 35 storeys of housing above

  • Plot A2 – a 250,000 sq ft office-led project including a 56,000 sq ft leisure centre
  • Offices and leisure situated next to the new residential tower

    Roger Madelin, Joint Head of Canada Water, British Land, said: “We are pleased to be working with Homes England at Canada Water.

    “Housing is central to our plan to deliver a new and vibrant town centre for London, where people can live and work and local communities can come together. Their support enables us to progress more quickly and is a testament to the quality of space we will deliver.”

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