Canada Water update
We featured our last Canada Water Masterplan Update in May 2018. As Southwark Council approved plans for the Masterplan in October, we choose to focus on some of the local commitments made by British Land.
To provide some context if you are new to the subject, The Canada Water Masterplan is a partnership between British Land, Southwark Council and the local community within SE16. The development covers 53 acres and is set to create a new town centre whilst encompassing and improving much of the area's existing infrastructure.
We are utilising headline information and statistics from the Canada Water Masterplan Local Commitments section of their website below.
Affordable homes for local people: “35% Affordable Homes – 70% of these will be at social rent – 6/10 will be suitable for families”
Local Transport Investment for current and future uses: “Over £33m towards transport improvements – Improvements to Surrey Quays and Canada Water Stations – Two new bus routes.”
Support for a Thriving Community and Economy: “Once completed, c.£100m a year will be spent in the local area – Jobs and training for residents to access the c.20,000 jobs – Up to 100,000 sqm of retail, leisure, entertainment and community space.”
Facilities for Local People: “New Leisure Centre – Land or money for a health facility - £5m to expand a local primary school.”
Canada Water – sustainable now and in the future: "All building will support low carbon living – A minimum of 35% of the Masterplan will be public open space – 12 acres of open spaces including a town square and park”
Ongoing Commitments: “As long term owners at Canada Water, we are committed to ensuring that our work and presence benefit the existing and future community. So far, we’ve focused our support on education, enterprise and community projects laying the foundations for local people to benefit from the opportunities that will be created through the Masterplan, from careers in construction or with future office tenants, to business opportunities or helping people to lead more active lifestyles. To do this, we’ve worked with some fantastic partners, including local charities and community groups and supported a range of events.”
As far as the existing local property market is concerned, areas like Canada Water, Surrey Quays, and Rotherhithe with the wider SE16 Postcode are already exciting areas to live. Canada Water is one Jubilee Line stop away so closely connected with Canary Wharf and the Masterplan as the foundation of the area's continued improvement. We strongly believe that buying property as an investment for capital growth or as a place to make your home is an intelligent choice.
Our team for Canada Water have awards for customer service and looks forward to assisting you when you book your free valuation & market appraisal.
Written by Alex Neil Estate Agents