A MARKET which has been running for more than 300 years could start regeneration work next year.

Greenwich Market, owned by the Navy's oldest charity - Greenwich Hospital, could see a revamp as early as next December.

The owners want to give the town centre market a face-lift which could involve replacing the 1950s buildings surrounding the market with new modern buildings.

Other suggestions include replacing the floor, improving pedestrian access and expanding storage facilities for market traders.

The market currently trades four days a week but the shops, cafes, bars, pubs and restaurants around the market are open seven days a week.

Antiques, collectables, arts and crafts are sold every Thursday and Friday from 7:30am to 5:30pm.

Food stalls as well as arts and crafts stalls are open on Saturdays, Sundays and Bank Holidays from 9.30am to 5.30am.

A spokesman for the charity said: "We recognise the market has a unique character, which is due to its range of independent shops and stalls.

"We are committed to retaining the character of the market and improving the fabric of the buildings beside the market, which do not meet with modern building regulations.

"The hospital is committed to the market for the long term and intends that any regeneration plan must be architecturally, physically and financially viable and capable of standing the test of time."

Greenwich Hospital is currently running a public consultation asking for people's ideas for the market as well as suggestions for an alternative site when the two-year building programme begins.

The consultation is being run by a consultative group chaired by Greenwich and Woolwich MP, Nick Raynsford.

It contains representatives from Greenwich Hospital, Greenwich Council, the National Maritime Museum as well as residents and market managers.

The planning application was originally due to be submitted to Greenwich Council this summer but it is now more likely to be submitted next spring following consultations and revisions of the plans.

Greenwich Hospital provides support including sheltered housing and education, to serving and retired personnel of the Royal Navy and Royal Marines.

For more information on the market, or to participate in the consultation which ends when the application is submitted, visit greenwichmarketconsultation.org.uk