British Waterways were hoping to restore it as part of the upgrade to Bow Back Rivers which took place for the 2012 Summer Olympics, but the gantries which enabled the gates to be raised were demolished to accommodate a wide bridge giving access to the main stadium.

They were used commercially for navigation, but no tolls could be collected and there was no incentive to the trustees or conservators of the Lea to spend any money on their maintenance.

West Ham Corporation, working with the Lee Conservancy Board, applied for and received grants to enable major improvements to be carried out to the Bow Back Rivers.

The choice was dictated by the fact that the structure had to act both as a navigation lock and as a means of discharging flood water.

As a result of the passing of the Transport Act 1968, Bow Back Rivers were classified as a remainder waterway, meaning that no investment was likely to be made in them.

[6] By 2006, the International Olympic Committee had awarded the 2012 Games to London, and the chosen site for the main venues included most of the Bow Back Rivers.

In 2010, British Waterways were hopeful that negotiations with High Speed 1 Ltd, who were operating the Channel Tunnel rail link, would result in £800,000 towards the cost of restoring Carpenter's Road Lock.

The Canal & River Trust, successors to British Waterways, approved a £1.75 million project to restore the lock in February 2016.

Grants of £680,000 were received from the Heritage Lottery Fund, £100,000 from the London Legacy Development Corporation and £4,500 from the Inland Waterways Association.

These enable the new structure to operate as a lock, and also to distribute flood water to the various channels in the Bow Back Rivers when the need arises.

The new radial gates and control gear were designed by Kgal, and because there is limited headroom, they were built as a series of modules, each weighing less than 0.5 tonnes, which were assembled on site.

[14] The reconstructed lock was formally opened as part of the first East London Waterways Festival, held over the August bank holiday.