Plans to convert Woolwich Paddy Power into residential use
An application has been submitted to convert a branch of Paddy Power in Woolwich to residential use.
The store on Francis Street was taken on by Paddy Power with a 15 year lease back in 2013.
A surge in betting shops opening over the past decade has often been attributed to Fixed Odds Betting Terminals which have been labelled the “crack cocaine” of gambling. Users were able to put in huge sums of cash in a short time.
However individual stakes were cut from £100 a time to £2 earlier this year and thousands of branches of bookies may now close. Areas with a number in close proximity are likely to see at least some shut incoming months and years.
For example William Hill have seen income fall 12 per cent since the cut in April.
Click here to view the plan.