When finished, the development will include a three-star hotel, residential properties, shops, a restaurant and a wine bar, an art gallery, a cinema and a public square large enough for 200 outdoor market stalls for Friday's antiques market.
In 2001 a petition of more than 600 signatures from traders and representatives of the local community was submitted to Nick Stanton, leader of Southwark Council, objecting to Urban Catalyst's plans for what was considered to be the over-development of Bermondsey Square. They asked that the community be consulted on a revised scheme for the site before the planning application was re-submitted to the council.
"Planning consent was granted in January 2004 and we have dealt with all the concerns of traders and local businesses," said Alistair Gaskin of Urban Catalyst.
"After the petition we held a number of open days to try to be available and give as much attention as possible to the market. We now have a measured amount of support."
Chris LeMay, Southwark Council's senior surveyor overseeing the redevelopment, said: "There has been a lot of consultation with traders who will have far better arrangements, including toilets, refreshment facilities and proper storage for the people who organise the market stalls. The market will remain open through the redevelopment by cordoning off the construction work and moving the stalls around the square, and we will do everything we can to see that the market is clearly signposted and advertised."
Father-and-son team Fred and John Sole supply the 200 stalls for the market - Fred has been doing this full-time since he was 15 - getting to the market at 3am on Friday to set up.
"We currently have a storage facility on site," said John. "Our new storage will be in the new development where the hotel is and will be a better situation with lighting and heating." Speaking of his father's involvement in consultations, John said: "It has been a very stressful time for him, particularly over whether the market remained in the council's control."
Joan Bygrave, an antiques trader in jewellery at Bermondsey since 1965, voiced her concerns, saying: "From the plans I've seen there are no dedicated parking places, inadequate toilet facilities - ie two toilets for the entire space - and the building of a ten-storey block sited in one corner of the market, on the corner of Abbey Road and Tower Bridge Road will tower enormously over the market. But yes, I'm optimistic about the future of the market and I'll certainly give it a go."
One can only hope that when the building work is finished the Square has not lost its heart.
