Nestled in the borough of Southwark, Canada Water has a fascinating history, once an industrial dock, it evolved into a bustling commercial and residential area over the years.  In recent years, the London borough of Southwark, in collaboration with British Land and the Canada Water Masterplan team, embarked on an ambitious journey to revitalise the space, after identifying an opportunity to put the area on the map. The primary goal is to create a sustainable, inclusive and innovative urban environment that fosters community engagement, economic growth, and environmental consciousness. 

A year from now, the first commercial scheme on the site will reach practical completion, so it seems a fitting time to look at how the Canada Water development is progressing, and what we expect as the stand-out scheme, comes to life. 

With ‘innovation’ being the key word associated with the development, the focus is on the type of tenants the space is going to attract. Whether that be educational institutions or life science, e-sports or climate tech businesses, the skills that the area will attract will position Canada Water as a new, modern and forward-thinking area in central London that will encourage a symbiotic relationship between the residents, wider community, educational providers and companies, large and small, attracted to the scheme.

When we look at e-sports for example, its popularity is forecast to grow significantly in the coming years, with data from Statista showing that in 2022 the global e-sport revenue totalled $1.38bn and is forecasted to increase by 36% to $1.87bn by 2025. This has resulted in higher demand for e-sports associated space. There’s also life-science and science in general, which has traditionally grown within the ‘Golden Triangle’ of Oxford, Cambridge and London, and if we see more education bodies taking space in Canada Water, it makes sense for those growing life sciences businesses to position themselves nearby.

If we then look at who will work in Canada Water, it brings us to the talent pool surrounding the area, where there are circa. 30,000 residents who could benefit from this multifaceted urban space. When we then look further afield at those around London, mainly aged 35 and under, who live near a London Overground service, they will benefit from extremely quick travel to the area, and with current rental prices making people move out of Central London, this will become even more desirable. 

The Canada Water development stands as a shining example of urban renewal done right, and it’s an exciting time as we look at what could become of the scheme. Its holistic approach to community development, sustainability, and cultural enrichment will set a standard for future projects worldwide and we look forward to witnessing the continued transformation of Canada Water, as well as introducing many innovative businesses into what will be a thriving, urban innovation hub.

Further information

Contact Josh Lamb

Sea change at Canada Water – soon to be London’s newest urban campus