Greenwich grants consent for 800-home Woolwich Exchange

Greenwich Council’s planning committee has backed plans for 801 homes at the £400m Woolwich Exchange, SE18. Councillors voted 5-1 to support St Modwen and Notting Hill Genesis’ plans for the 5.7-acre site, which the council aims to sell to the developers. Woolwich Exchange sits between the Royal Arsenal Riverside development and the DLR and National Rail stations. The Royal Borough of Greenwich identified the land for regeneration in 2012 and appointed St Modwen and Notting Hill Genesis to deliver the site in 2014. The council has entered into a conditional land sale agreement to sell the site to the joint venture. First it must acquire the land either by agreement or Compulsory Purchase Order. Plans will see a series of blocks of between two and 23 storeys and include 113,000 sq ft of commercial space. The scheme includes 20% affordable housing, a new Picturehouse cinema and the regeneration of the Grade II market building. Gary Morris, senior development manager at St Modwen, said: “Woolwich Exchange is an ambitious regeneration that will transform this part of the town centre, while also respecting the area’s rich heritage.” John Hughes, group director of development at Notting Hill Genesis, added: “Woolwich is growing and the transformative plans for Woolwich Exchange are part of its sensitive evolution which will bring a huge range of benefits to the area and help unite the town centre.” The consent follows the surprise refusal of L&G’s £300m Woolwich scheme earlier this month. The investor had proposed 595 build-to-rent flats in blocks of up to 23 storeys, including 20% affordable housing provision. But, the committee complained about the height, massing and lack of affordable housing in the scheme. Greenwich has attracted a number of large mixed-tenure schemes, with Criterion, Lincoln and MGT and developer Montreaux all planning upcoming substantial developments in the borough. To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews Image © St Modwen and Notting Hill Genesis