A planning proposal for a £4 billion “urban centre in Canada Water” with 3,000 homes has been submitted to Southwark Council.

The development is described as a “new urban centre for the area with a wide range of uses including offices, retail, leisure, community and public spaces as well as new homes for a range of ages, incomes and life stages.”

Southwark Council leader Peter John welcomed the application, which includes 35 per cent affordable housing.

He said the Masterplan for the site, which sits between the City and Canary Wharf, and is close to Canada Water Underground station, would “deliver what local people want.”

“It is fantastic to see this project moving forward,” he said.

“British Land has 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.”

He said the project was the first of its kind to commit 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,” he added.

The site also includes the ageing Surrey Quays shopping centre, the abandoned Daily Mail printworks and the disused Rotherhithe police station.

The application is yet to be validated.

It is expected that the Masterplan will be built out in stages with a target completion date of 2033. British Land plans to remain a long term partner in the area.