St Modwen and Notting Hill Housing has been given approval to develop a £200m 4.6-acre mixed-use scheme at Spray Street Quarter in Woolwich.
The plans for the site include new shops, a cinema, cafes and restaurants and flexible office/business premises alongside the creation of a new public space. The proposals would also deliver around 600 new homes, 35% of which will be designated affordable housing.
Councillor Denise Hyland, Leader of Royal Greenwich, said, 'Woolwich is undergoing a huge transformation and the area around Spray Street and the covered market has unfortunately declined in recent years. With more homes coming to the area and the arrival of Crossrail right across the road, the new plans will bring huge benefits to local residents.
'New and modern retail spaces, and the addition of a new local cinema, will help drive up our local night-time economy where all our local businesses can benefit.'
John Hughes, Group Development Director at Notting Hill Housing, commented, 'This is a fantastic opportunity to work with Royal Greenwich to transform this part of Woolwich town centre into a new community and commercial hub with great access to public transport.'
Tim Seddon, Regional Director for London and the South East at St. Modwen, said, 'The Spray Street Quarter will be a vibrant addition to the town centre, providing new homes, leisure and job opportunities. Woolwich's excellent connections provide the opportunity around a key transport hub to meet local and London-wide demand with a broad mix of housing types, including affordable homes, private sale and also a private rented sector, build-to-rent offer.
'We look forward to working with our partners Notting Hill Housing to bring our extensive regeneration expertise to this next phase of revitalising Woolwich town centre.'
The covered market and businesses will continue to operate as usual until work subsequently begins on the new site, once a planning application has been approved.