Woolwich's £25m town centre regeneration suffers a blow as contractor goes into administration

Works to regenerate Woolwich town centre could be delayed after the construction company carrying out the job went into administration. Surrey based firm Geoffrey Osborne Limited has called in administrators from RSM's restructuring advisory teams.

The company was appointed to carry out works for Greenwich Council’s scheme to regenerate Beresford Square and Powis Street in Woolwich town centre. Work on the £25 million town centre project began in September last year and is still currently ongoing.

A Greenwich Council spokesperson told the Local Democracy Reporting Service (LDRS): "We're aware that Geoffrey Osborne Limited (Osborne) has unfortunately gone into administration."

They added: "We'll be taking measures to ensure work progresses on the Beresford Square, Powis Street and Market Pavilion projects as soon as possible and will update local residents, businesses and market traders when we have more information."

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The scheme will see major renovations to Beresford Square including terraced seating, lighting and an interactive water fountain. The square's 400-year-old market is also planned to have a new dedicated pavement along its west side, when stalls were previously arranged in the centre of the space. John Haddon, 77, has traded on Beresford Square for 25 years and previously told the LDRS that vendors were not 'fantastically enthusiastic' about the new scheme.

He said: "Most of us are established here in this area. I'm quite lucky because I can be seen from the bus route. Markets are really a thing of the past in the south. In the north, they're quite strong still. The high street isn't really big enough to attract people."

A Greenwich Council spokesperson previously told the LDRS that the changes to the town centre had been planned to make Woolwich a more attractive and welcoming area and to encourage more people to shop there. They added that the scheme was designed in collaboration with residents, businesses and market traders.

The Grade II listed Royal Arsenal Gatehouse in the square would also receive additional lighting and accessibility improvements as part of the scheme, alongside a new market pavilion with a café and play spaces for children. Powis Street will have street clutter removed with new paving and planting, as well as public seating and improved visibility.

Osborne was approached for comment, but had not responded at the time of publication.

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