Artfix operate a gallery space, café and library in Greenwich near the market.
They sought to serve alcohol from 12:00 noon until 23:00 hours Thursday to Tuesday and from 11:00 until 23:00 hours on Wednesday.
The police asked for 19 conditions which the applicants agreed to.
Despite that, Greenwich West councillor Maureen O’Mara (Labour) said “enough was enough” for nightlife in Greenwich and opposed the move.
She recently opposed Japanese restaurant Nanban serving alcohol until 11pm and sought to prevent diners drinking while eating.
Some residents around the market also objected.
The gallery claim they will open late around once per week. Outside drinking is banned due to noise concerns.
A cumulative impact zone was mentioned by opponents, though supporters state a gallery is quite different to chain pubs such as Wetherspoons or the numerous Young’s pubs now seen in the town.