Long Lane was closed to traffic on Friday afternoon after a hole appeared in the road.
The hole appeared next to a manhole cover in Long Lane near the junction with Wild's Rents, outside the Fine Foods Deli.
Police cordoned off the affected section of road and Thames Water sent staff to investigate the problem.
It is not yet clear how long the road will remain shut.
Buses on route C10 were diverted away from Long Lane.
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