Waterloo is to become a Portas Pilot area with a cash injection of £97,737.

The announcement on Wednesday, July 25th, follows a submission from Waterloo Quarter outlining ways in which funding could be used to support Lower Marsh and The Cut.

About 400 areas of the country applied for the funding, of which only 27 have been successful.

Waterloo Quarter's submission included supporting statements from local landlords, residents, Morley College and the Old Vic Tunnels.

A video submission was also created for free by local video company Spectrecom.

Plans include partnerships with Morley College and Oasis Johanna Primary School to allow students to test trade their goods on Lower Marsh Market, partnerships with landlords to make use of vacant retail space and the creation of some satellite market stalls opposite the Old Vic.

Local independent traders will also be encouraged to get behind Independents' Day - a national campaign which supports independent shops.

Helen Santer, director of operations for Waterloo Quarter, said: "We are delighted the Greater London Authority and the Department of Communities and Local Government have spotted the potential in Waterloo and have committed this funding to the area.

"We will be in touch with all local businesses in the near future to let them know how they can get involved."

If you have any questions about the Portas Pilot, email hsanter@waterlooquarter.org