Find out about plans for new housing, public spaces and shops. How we're supporting local traders and ensuing community benefits.
The new development and its residents are expected to provide a big boost for local businesses.
However, the redevelopment of the shopping centre means that the businesses which currently trade here will need to relocate, ideally within the new development.
The development is being done in phases. This has been done to reduce the impact on local businesses, and so that Morrisons can continue trading.
We have a good track record in supporting businesses in these circumstances. A recent example is the relocation of traders from the arcade outside Peckham Rye Station to Peckham Palms and elsewhere.
The developer, Berkeley will be legally obliged to support these businesses. We will monitor them closely to ensure they go above and beyond the minimum expected. Berkeley will also need to provide discounted retail and business space on the ground floor of the new development. Some of this could house traders from the former shopping centre.
We support Black and Minority Ethnic owned businesses, and new enterprises owned by young people and female entrepreneurs, through schemes such as the Southwark Pioneers Fund and other offers of funding, mentoring and training.
The Thriving High Streets Fund supports town centres, such as Peckham, through the development and delivery of town centre action plans.
We have also established the Peckham Business Forum which now has more than 75 members.