These new images show how Canada Water could look if British Land’s major planning application gets the go-ahead.

British Land has entered into a Master Development Agreement with Southwark Council and submitted an outline planning application for the Canada Water Masterplan.

The outline submission also includes a detailed planning application for the project’s first three buildings, which include workspace, homes (of which 35 per cent will be affordable), retail and a new leisure centre. The first three buildings are located on parts of the site which are currently overflow car parks for Surrey Quays Shopping Centre alongside the edge of Canada Water itself, as well as the vacant site at Robert’s Close.

Subject to planning approvals, construction of the first aspects of the masterplan could begin in spring 2019.

The Master Development Agreement provides a framework for delivery of the Masterplan, pools Southwark Council and British Land’s freehold and leasehold interests across the site and allows a new 500-year lease to be drawn down.

This agreement also confirms the local authority’s stake in the project, and their right to invest up to 20% in each forthcoming plot; the agreement also confirms the location of a new leisure centre as part of the proposals.

Roger Madelin, Head of Canada Water Development, British Land, said: “We are delighted to have entered into a Master Development Agreement with Southwark Council and submitted our planning application for the Canada Water Masterplan which marks an important milestone in the delivery of this project.

“Drawing on our experience of creating vibrant, mixed-use places across the capital, this major urban centre at Canada Water will provide an exciting place to live, work and visit, delivering high quality design, active spaces and significant economic and social benefits for the local community.

“We have worked closely with Southwark Council and the local residents of Canada Water to achieve this important first step, and will continue to work with them to enable a truly cultural and diverse neighbourhood for London.”

Cllr Peter John, leader of Southwark Council, said: “It is fantastic to see this project moving forward. British Land have done great work to consult and engage with local people and the resulting Masterplan will deliver what local people want to see, including a guaranteed 35 per cent affordable housing split 70 per cent social rent and 30 per cent shared ownership in the first phase, new retail spaces and job opportunities, education and health facilities and a brand new leisure centre.

“In addition British Land, in conjunction with the council, has committed to a Social Regeneration Charter which will ensure that the lives of existing local residents will be improved by the project which we believe to be a first for a project such as this.

“People will be able to see the proposals and make further comments through the planning procedure, so there is still time to get involved and help create the future of Canada Water.”

The planning application has not yet been ‘validated’ by Southwark Council and the documents should be available on the council’s website in the next few weeks.