Is Your Business Affected by the Plumstead Road CPO?

If you run a shop, restaurant or other business around Plumstead Road, Spray Street, Woolwich New Road or Burrage Road, the Woolwich Exchange regeneration may have significant implications for your business.

For a business owner, compulsory purchase isn't simply about the value of a property.

You may need to find new premises, relocate staff and equipment, refit another unit and deal with disruption to a business that may have traded from the same location for many years.

The Woolwich Exchange CPO has now moved into an important stage, with two General Vesting Declarations issued in August 2026 to begin implementing the compulsory purchase powers.

If your business is affected, it is important to understand what you can claim and to start preparing early.

What is happening on Plumstead Road?

The Woolwich Exchange scheme is a major redevelopment of the area around the former Woolwich covered market between Plumstead Road and Spray Street.

The development will provide 801 new homes alongside commercial, leisure and community space.

The Council has confirmed that compulsory purchase powers are being used to assemble the land required for the development.

What does the CPO mean for my business?

The answer will depend on how you occupy your premises.

You may be:

· A business freeholder

· A commercial leaseholder

· A tenant

· An occupier with another form of legal interest

Your rights and compensation entitlement will depend on your particular circumstances.

This is why it is important to have your lease and other occupational documents reviewed rather than assuming that the same compensation rules apply to every business.

What can a business claim?

Compensation for an affected business can potentially extend considerably beyond the value of the property or lease.

Depending on the circumstances, a claim could include reasonable costs and losses associated with relocating the business.

These might include matters such as:

· Removal costs

· Costs associated with finding replacement premises

· Fitting out replacement premises

· Professional fees

· Temporary storage

· Moving equipment and stock

· Business interruption

· Other reasonable disturbance losses arising directly from the acquisition

The precise entitlement will depend on the circumstances of the business and the nature of its property interest.

There is also a duty to act reasonably and mitigate your losses, which makes obtaining advice early particularly important.

What if I can't find suitable replacement premises?

This can be one of the biggest problems for businesses affected by compulsory purchase.

Finding premises at a similar rent, in the right location and with the correct size, planning use, servicing and customer catchment can be difficult.

Greenwich Council's published information recognises the importance of business relocation and provides a relocation strategy and schedule of potentially available premises for affected businesses.

However, you should still consider your own requirements carefully and obtain independent advice about the financial implications of relocation.

Should I keep records of my costs?

Yes.

If you think your business may have to relocate, start keeping detailed records now.

Invoices, quotations, accounts, removal estimates and correspondence concerning replacement premises could all become important when preparing a disturbance claim.

Don't wait until after you have moved to try to reconstruct everything.

Do I have to negotiate with the Council myself?

No.

You are entitled to appoint your own surveyor to advise you and negotiate your compensation claim.

The Council's published CPO guidance confirms that reasonable professional fees relating to compensation claims are reimbursable where property is compulsorily acquired. Fee undertakings may also be available for professional advice during negotiations before compulsory acquisition.

How Olden Property can help your business

Olden Property advises businesses affected by compulsory purchase and regeneration schemes throughout London and the South East.

Your case would be handled by Tom Olden MRICS, a Chartered Surveyor, RICS Registered Valuer and member of the Compulsory Purchase Association.

We can help with:

· Reviewing your lease and property interest

· Valuing your freehold or leasehold interest

· Assessing the Council's offer

· Identifying potential heads of compensation

· Advising on relocation and disturbance costs

· Reviewing alternative premises

· Preparing and negotiating your compensation claim

· Dealing directly with the acquiring authority's surveyors

Our role is to make sure the effect of the compulsory purchase on the business as well as the property is properly considered.

Is Your Business Affected by the Woolwich Exchange CPO?

If you operate a business within the Plumstead Road or wider Woolwich Exchange CPO area, it is worth taking advice before agreeing compensation or committing to replacement premises.

The earlier we understand how your business operates and what you will need to relocate successfully, the better we can help you prepare your claim.

Contact Olden Property to speak to Tom about your business, relocation and compensation claim.