DEVELOPERS hope to give Woolwich's rundown old Co-Op building a new lease of life by turning it into homes.

The once magnificent art deco building in Powis Street has fallen into disrepair in recent years.

But plans to provide retail on the ground floor and add a three-storey extension to provide 74 homes have been waved through by a Greenwich Council planning committee.

The development, being built by Dagmar Ventures, includes 14 one-bedroom and 60 two-bedroom flats.

Parking is set to be provided in the locally-listed building's basement while all floors will be accessible by lift.

The original department store was built back in 1938 by the Royal Arsenal Co-operative Society. Developers plan to refurbish it completely, restoring and replacing the external tiles in keeping with its history.