Tesco, the largest supermarket group in the UK, and St James Investment have received planning consent from the local authorities for a 10.8-acre regeneration scheme to be developed in Woolwich town centre.
Tesco, the largest supermarket group in the UK, and St James Investment have received planning consent from the local authorities for a 10.8-acre regeneration scheme to be developed in Woolwich town centre.
The EUR 606 mln revamp will include one of Europe's biggest Tesco stores, a library, a local council service centre, 21,497 m2 of offices, nearly 1,000 new homes, and six retail stores. The two companies submitted plans for the 139,353 m2 project to the Greenwich Council's committee in April 2006. The project is expected to create about 600 jobs in Woolwich, south-east London, and revitalise the town's retail offering.
The project will also enable Tesco to strengthen its foothold in the residential sector as new communities will be built around the new stores, British newspaper Scotsman reported. Last week the retailer also unveiled plans for a new store together with 600 residential developments in Tolworth, Kingston-upon-Thames.
