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

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 WaterPlot K1 – a building solely for 79 affordable homes.K1 plot plan for affordable housing designed by architect Morris + CompanyPlot A1 – a 270,000 sq ft build for 186 homesAdjacent to Canada Water station, plot A will consist of a 5-storey podium and 35 storeys of housing abovePlot A2 – a 250,000 sq ft office-led project including a 56,000 sq ft leisure centreOffices and leisure situated next to the new residential tower