Plans have been revealed this week for an 18-storey tower on the St Olav’s Court / City Business Centre site next to the Rotherhithe Roundabout.
Developer Southern Grove announced that it has exchanged contracts to purchase the site which occupies a prominent location at the northern end of Lower Road, opposite the entrance to the Rotherhithe Tunnel.
The site is close to the grade II listed Norwegian Church.
Southern Grove intends to apply to Southwark Council for planning permission for an 18-storey building to be known as The Brooklyn.
The scheme – designed by architects Liftschutz Davidson Sandilands – will include 150 homes and 25,000 sq ft of office space.
Tom Slingsby, chief executive of Southern Grove, said: “The Brooklyn is a fantastic addition to this site and will provide a healthy boost to housing and commercial stock in Canada Water, which is one of the capital’s regeneration hotbeds.
“People living here really will feel like they are within striking distance of central London. They will be able to hop on the Tube and be in the City, Canary Wharf or any corner of the capital in minutes.
“Canada Water is going to be put on the map in a bold new way by the extensive regeneration that is going to take hold over the next 15 years and our own scheme will complement that effort.”
St Olav’s Court is identified in the council’s New Southwark Plan as a development site, with a requirement for re-provision of the existing office space.