Southwark residents claim the council has left them in the dark about potential threats to existing businesses, additional family activities, and council housing developments in the new town centre regeneration.
Nicknamed The Masterplan, the £4bn project is already underway in the zone two borough. Developers have implemented a phased approach to construction to establish a ‘new district for central London’.
The council built a block of affordable homes at Roberts Close, Rotherhithe, in 2023 which included 60 social rent homes and 19 affordable homes. On The Masterplan website, it states that: “35% of homes will be affordable, made up of 25% social rent housing and 10% intermediate affordable housing, which is policy compliant.”
However, this may change. In 2025, British Land, one of the developers, appealed to the Mayor of London to allow them to revise these numbers.
The letter sent contained the admission that, according to their viability assessment: “The baseline illustrative scheme appraisal indicates that at present the maximum reasonable level of affordable housing is [circa] 3% by habitable room.”
In 2025, private companies built a luxury block of 186 flats named ‘The Founding’ where prices for a one-bedroom start at £695,000.
In a statement to the SWL, British Land said: “Our revised application is a reflection of major regulatory changes and ongoing challenges triggered by macro-economic circumstances.”
Regulatory changes include the Building and Safety Act 2022, which introduced a requirement that buildings taller than 18m have a second staircase.
They also cited rising costs, driven in part by the Coronavirus pandemic and the war in Ukraine, while higher interest rates have increased financing costs.
Cllr Hellen Dennis, Southwark’s cabinet member for new homes, said: “Affordable housing is a priority for Southwark and is a key part of any new development in the borough.
“We will continue working at Canada Water with the GLA and all parties to get the best deal possible for the people of Southwark.”
Roberta Milton, a sales assistant at Surrey Quays Shopping Centre, said Southwark has not provided the community with information about additional council homes in the area, considering the proposed reduction.
She said: “It doesn’t sit well at all. Some people have been waiting an awful long time.”
The waiting list currently stands at 18,000, with an average wait of 1,101 days for a one-bedroom.
Aisha Khan, another local, said: “If you’re not on social media, like a lot of the people here, you are pretty left out.”
Demolished already, Surrey Quays Leisure Park, which featured a cinema, bowling alley, and bingo hall, is currently vacant.
Milton said she worries replacement activities could decrease affordability for local families. A lack of local options has already affected Khan.
She said: “It used to be a bus ride or walk away, but now it has to be planned.”
Cleon Walters, a local food truck owner and resident, said: “There hasn’t been much for [children] to do locally since the cinema closed.”
He added that he has not received much information about how the developments will affect local businesses.
However, Cllr Dennis said: “We can confirm that the Masterplan contains 10% affordable retail units for independent traders”.
She reiterated that redevelopment will take local needs into account.
The Masterplan also includes replacing the Surrey Quays Shopping Centre, which has been around since the 1980s.
Cllr Dennis said the replacement will include an updated and improved Tesco and will not be demolished until a new Tesco superstore is up and running.
But, residents worry that a smaller Tesco would be unable to serve the needs of the growing community.
Khan said the loss of this small local shopping centre will have a big effect on the older generation.
She said: “A lot of my neighbours who are elderly use this space – it’s easy for them to get around – it’s quite convenient, and there are quite a few shops, all the necessities are here.”
The centre also hosts the second venue for the local charity T&T2, which offers free events for all ages.
Featured image: Canada Water’s new red bridge, one of the first steps of the regeneration | Wikimedia Commons
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