The Royal Borough of Greenwich has approved St Modwen and Notting Hill Housing as development partners to work up a mixed-use scheme at the Covered Market in Woolwich, SE18.
The decision follows the cabinet approving their appointment as the preferred bidders in December 2014, to deliver a mixed-use redevelopment of the Covered Market and adjoining land, to be known as Spray Street Quarter. Contracts can now be signed and plans drawn up.
With a projected development value of more than £200m, the scheme would include new shops, a cinema, cafés and restaurants, as well as flexible office premises and new public space.
The scheme also includes around 600 new homes, 35% of which are affordable.
The plans will be submitted for approval following further public consultation.
Denise Hyland, leader of Royal Greenwich Council, said: “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, providing new and modern retail spaces, and the addition of a new local cinema will help to drive up our local night-time economy where all our local businesses can benefit.”
John Hughes, group development director at Notting Hill Housing, said: “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 PRS, build-to-rent offer.”
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