We have entered into a Master Development Agreement (MDA) with Southwark Council for the Canada Water Masterplan.

This is an umbrella agreement which sets out the obligations and responsibilities of both parties to enable the delivery of the Masterplan. The MDA regularises the different land ownerships held by us and Southwark Council by the Council granting a new 500 year lease to us for the whole site, with the council remaining as freeholder. The Council has a 20% interest in the Masterplan site and an option to invest in individual development plots or to sell out its interest.