The Royal George pub in Blissett Street is set to be turned into flats after planning permission was granted by Greenwich Council.
The pub closed its doors recently and the owners, Shepherd Neame, put in an application to have the building converted into two flats.
To illustrate the loss of trade the pub had suffered, Shepherd Neame described in its application how annual beer barrel volume averaged at 120 barrels between 2000 - 2009, whereas it has been as high as 310 barrels between 1977 - 1986.
They also highlighted the affect of the smoking ban, business rates, utility bills and the minimum wage as factors which they say made the pub no longer economically viable.
Six responses from the public were made which all opposed the closure, but permission was granted at last week's meeting of the Greenwich area planning board.