Scheme Update Woolwich Exchange Regeneration

This is a scheme I started working on in 2014 – the year Olden Property was established.

I predominantly work for parties impacted by compulsory purchase. There have been delays over the years for a multitude of reasons but the CPO was finally confirmed in August 2023. My clients, owners and occupiers of Property in Woolwich would rather the scheme did not happen but as it has been ‘hanging over them’ for over a decade - they are keen for the scheme to progress. Sadly this certainty is not forthcoming any time soon. There is a further delay.

The delay is down to fire safety regulations which may require an element of re-design to tall buildings within the scheme. Another more likely reason for the delay is one of two developers Greenwich Council hoped would take the scheme forward has decided it is not for them and they have walked away. Presently the scheme, which is a major commercial and residential development only has a residential developer on board.

 Is it reasonable for the state to hold a Compulsory Purchase Order over private property owners  and businesses for over 10 years ? It is very difficult for businesses to make any big decisions. Although smaller developers are eager to acquire property and undertake smaller developments, they are put off by the wider ‘comprehensive’ regeneration scheme and so they don’t progress. Greenwich Council is keen for a major regeneration scheme to happen and has gone through a difficult & expensive planning and legal process to ensure they have complete control over the land needed. However, unless they are in a position to undertake the development themselves, it seems they have no control over whether or not the scheme ever happens – this will be decided by a private company and their assessment as to the viability of the scheme. This is what happened at the Whitgift Centre in Croydon (and has recently happened with HS2).

Should there be stricter rules that if you have a successful CPO ? Forced to acquire the Property if the owners want to sell ? Could there be smaller developments within the scheme boundary the Council could and should progress ? Or let the current property owners undertake these smaller developments themselves ?   

At Woolwich no one is winning. The regeneration scheme is on hold  so the people of Woolwich are not getting the benefits being offered for over 10 years. The businesses and property owners are left to wait further – either for the scheme to happen or get cancelled. This could hang over my clients in Woolwich for another 6 years which is wrong.

 Any comments welcome – especially from those working on the other side of the fence to me.