The Royal Arsenal in Woolwich is one of the most interesting regeneration plans in the whole of London. In total the multi-billion pound project will be one of the largest examples of property investment Greenwich has ever seen. To date over 1,700 homes have been built, including the conversion of numerous historically significant buildings. In addition, there are proposals for 3,700 new homes plus commercial, community, and leisure space.

Spray Street Quarter

One proposal for the area has split opinion recently. The plan is to build 750 new homes including 260 affordable ones for first time buyers as well as renters. The amount of affordable housing complies with the Greater London Authority Policy for new developments. In addition, the project could also create as many as 440 new permanent jobs in the area.

Opposition

The people against the project have concerns about the scale, the potential loss of jobs, and the fate of Plumstead Covered Market. The latter is a unique building and a proposal has been sent to Historic England to see if it can be listed. The development could also displace a number of local businesses.

The developers, Notting Hill Homes and St Modwen, spoke of their commitment to working with all stakeholders on the project. Their aim is to oversee a project that will benefit local people whilst also providing new homes and facilities for the area.

Greenwich Council has the proposal. They could make a decision on whether to grant permission before the end of 2018.

Finefair is a forward thinking team that keeps an eye on regeneration and development projects across the capital. Our aim is to ensure we can provide the best information for investors and support them effectively. This is important for adding value.

When it comes to property investment Greenwich has nobody better to assist you. Contact our team today to speak about your aims and the kind of property you are looking for. We will explain our services and offer tips.