The housebuilder will fund construction of a new ‘station box’ which can be fitted-out to form a new station for Crossrail.

Berkeley will build another 1,000 new homes on the site and the new station will enhance the value of its existing developments in the area.

Transport Secretary Philip Hammond said: “A Crossrail station in Woolwich would make travel to the centre of London quicker and easier and would help bring new investment to the area.

“I am pleased that we have secured this site for a future station and have reached an agreement to build the ‘box’ for the station at no extra cost to the taxpayer, bringing the benefits of a station in Woolwich a step closer.

“This is an excellent deal for the taxpayer and shows our commitment to deliver the ambitious Crossrail project while maximising value for money.”

Construction work on the new station box will get underway shortly.

Rob Perrins of Berkeley Homes said: “This is an exciting project and Berkeley is looking forward to working in partnership with Crossrail in the delivery of a major new transport system for London and, in particular, in providing the Station Box at Woolwich.

“Berkeley has always been totally committed to having a Crossrail station within its flagship development at the Royal Arsenal and it is hoped that with the partners signing the contracts for the Station Box today that this will now become a reality.

“Berkeley is delighted that its financial strength has enabled it to make a substantial investment in the Royal Arsenal station having now acquired the remaining land from the LDA and secured a planning consent for another 3700 homes and a significant area of commercial space to complete the regeneration of this important part of London.

“However, there is still much to do to raise funds to ensure the Station Box is fully fitted out as an operational station at no net cost to the public purse. I have every hope that this can be achieved.”