A MARKET closure which could leave a derelict space in the heart of Greenwich has been labelled “an absolute disgrace”.

The Village Market, held every weekend in Stockwell Street, Greenwich, will cease trading for good this Sunday (March 22).

Developer Capital and Counties Properties had planned to build flats, offices and shops on the land.

That development was given the go ahead by Greenwich Council last year but plans have been put on hold and traders now believe Greenwich University is in talks to buy the site for its architecture school.

Executive committee member of charity The Greenwich Society Ray Smith said: “The worst of all worlds would be for the site not to be developed and the market not to be there.

“If so, there’s the potential the site will become virtually derelict for some time.

“That would be unacceptable really and does the town centre no favours at all.”

At Sunday’s market there was widespread anger that it would be shutting with no firm plans for what would replace it. News Shopper: Stephen Rumney has said the closure is a "disgrace"

Stephen Rumney, also known as DJ 2 Dam Funky, has been running a record stall at the market for around four years.

He said: “I can't believe there is anyone with any sense in Greenwich Council, which is meant to represent the community, the borough and the people of Greenwich, and has had the complete lack of foresight to get rid of the only bit of Greenwich that has any character.

“It's an absolute disgrace and a disaster for Greenwich. Everybody I have talked to cannot believe that Greenwich Council has made such a mistake.

“I think the council should have put some money into it to make it a bit more like Camden Market or Spitalfields.”

Trader Peter Nikolic said: “Previously we’ve had promises that it would carry on for another year but that’s been ruled out now.

“When you speak to the public about it they’re absolutely disgusted. They all say that they come down to Greenwich for the markets.” News Shopper: Peter Nikolic says traders have nowhere else to go

The 55-year-old said: “We’re just being thrown out and that’s it - there isn’t really anywhere left to go.”

The market has been running for around 20 years, sellling things including antiques, collectables and vintage clothes.

Regular visitor Catherine Rushforth, 48, of Eastley Street, Greenwich, said: “This is the last bit of quirkiness in Greenwich that we are losing here.

“In the time I have lived in Greenwich the number of people who have come has risen and shutting the market is knocking away the income at a local level.”

A spokesman for Greenwich University confirmed it was planning to move its School of Architecture & Construction to Greenwich.

He said: “Although we have been in talks with a number of landowners, we have not yet purchased a site."

A Greenwich Council spokesman said: “While we regret the loss of the market, the private owners of this site have always had ambitions to develop it.

“Therefore, its status has always been temporary and its future has never been in the council’s control."

- News Shopper is awaiting a comment from Capital and Counties.