Woolwich Exchange regeneration scheme in UK gets planning approval

WCN Editorial Team 28 May 2021 EUROPE BUILDINGS

The £400m Woolwich Exchange regeneration scheme, being developed by a partnership of St. Modwen and Notting Hill Genesis, has secured planning consent from Royal Borough of Greenwich council in London, the UK.

This proposal will feature transformation of the Grade II-listed former covered market in Woolwich, SE18, into cafés, bars, restaurants and a new five-screen Picturehouse cinema.

The project will consist of 801 homes designed for flexible living, with space to live and work at home.

This regeneration scheme will see 158 homes being offered as affordable tenures, out of which 56 homes will be family sized.

It will also feature new green, public spaces and new community facilities such as a nursery, children’s play areas and workspaces.

Most of the historic buildings on Woolwich New Road will be preserved and enhanced.

Additionally, the historic former covered market on Plumstead Road will be retained.

Picturehouse Cinemas plans to open Woolwich’s first cinema in a generation following the closure of the Coronet in 1999.

St. Modwen senior development manager Gary Morris said: “Woolwich Exchange is an ambitious regeneration that will transform this part of the town centre, while also respecting the area’s rich heritage. Adding a new cinema within the historic covered market building is going to be a spectacular addition to the area.”

The project is expected to create more than 600 temporary jobs during the construction phase and approximately 200 permanent jobs.

Construction work on the scheme is expected to begin in 2023.

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St. Modwen and Notting Hill Genesis secured planning approval for Woolwich Exchange regeneration project in London. Credit: St. Modwen Properties PLC.

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