GREENWICH Market bosses have told traders there will be no start to its controversial redevelopment for at least another year.
The news was delivered by Edward Dolby, Resources Director at Greenwich Hospital, at a recent meeting with traders, held at the Trafalgar Tavern.
The naval charity, which owns large parts of Greenwich town centre, committed itself at the meeting to giving all commercial tenants twelve months' notice before beginning works.
When Greenwich Hospital won its planning appeal to go ahead with the scheme, it was anticipated that the project would get under way in January 2013.
The delay is good news to some traders who feared for their place at the market during, and after, the regeneration. John Dawson, who runs a spanish food stall, welcomed the news and told this website it was a "huge relief."
"You invest thousands of pounds and many hours of work into setting up the business, so to think it could be lost in a few mounths time was a bad feeling," he added
The market revamp which includes a new 99-bedroom boutique hotel had been unanimously rejected by the Greenwich Council's Planning Board, but the decision was overturned by an independent planning inspector.
Mr Dolby told Greenwich.co.uk, "We are continuing to take strategic advice on the best method of moving the market regeneration forward in these very challenging times."