The project, in partnership with asra Housing Group, will transform three council estates, situated to the east and west of Woolwich town centre, into 1,500 mixed-tenure homes.

Subject to extensive consultation and the plans successfully completing the full planning process, work will begin next May on a 13-year revamp programme.

The three estates to be demolished and rebuilt are: Connaught; Morris Walk; Maryon Road and Grove.

Rehousing of tenants on the Connaught Estate has already started, with 70% already moved off the estate.

John Morgan, Chief Executive, Morgan Sindall Group, said: “We are delighted to have been chosen to work on this regeneration programme after a rigorous selection process.

“We have a solid record of working with communities to create successful, high-quality and sustainable mixed-tenure neighbourhoods and we look forward to working with all those involved.”