But despite planning permission being approved for the revised proposal in 2021, soaring development costs as a result of Covid, global conflicts and new building safety regulations have forced all but one of the developers – Notting Hill Genesis – to pull out.
Since then, the project has stalled.
“It’s a viability issue,” says Olden. “Over 12 years, there have been major obstacles to development, the economy is unrecognisable. We’ve had Covid, two wars and changes to fire safety regulations, brought about by the Grenfell tragedy.”
For the businesses caught in the middle of it all, it’s been hell.
Tariq Ahmad, who runs Sam’s Chicken next door to the protected Woolwich market, says his business still faces the wrecking ball under the latest plans despite serving the area for 17 years.
“Everybody knows our business. We started in 2009 and it was a rundown pub when I bought it – lots of druggy people sitting outside. I spent nearly £400,000 developing it, and now we’re stuck. It’s been very stressful.”