£2Bn Covent Garden Market scheme to start next year

An artist's impression of the proposed development. Photo courtesy of St Modwen Properties.
An artist's impression of the proposed development. Photo courtesy of St Modwen Properties.

Construction of the £2Bn New Covent Garden Market development is hoped to get under way next year after joint developers Vinci and St Modwen Properties (VSM) and the market owners submitted a planning application to Wandsworth London Borough Council.

 

The five year redevelopment of the 57 acre (23 hectare) site at Nine Elms in South London will be part funded by the government owned Covent Garden Market Authority (CGMA) releasing land to the developers for house building and other development. The market has been on this site – formerly the Nine Elms Locomotive Works - since 1974, after moving from Covent Garden in central London.

 

Vinci and St Modwen signed a contract with the CGMA last year for the regeneration scheme that is billed as the gateway to the giant Vauxhall, Nine Elms and Battersea Opportunity Area that includes the Battersea Power Station redevelopment.

 

The development will take place in stages with construction work to include 550,000 sq ft of warehouse and retail spaces for the 200 businesses currently housed in the famous fruit, vegetable and flower market. Some 20 acres of land will be used for construction of a residential led mixed use regeneration scheme, with 3,000 homes, 135,000 sq ft of offices and 100,000 sq ft of retail and leisure development.

 

St Modwen Chief Executive Bill Oliver said: “This latest milestone is a hugely important step forward for this vital and complex regeneration project which will act as the gateway to the Vauxhall, Nine Elms and Battersea Opportunity Area.

 

“Over the last 12 months, VSM has worked closely with CGMA and the market community, as well as key stakeholders, to refine these plans and present a world class development that will create construction jobs, attract investment and transform this important part of Nine Elms.

 

"We are now looking forward to working alongside Wandsworth Council to secure planning approval and, with CGMA, to transform the area into a lively and exciting new quarter for London."

Please rate

Comments 

Name
Email
  Ctrl + Enter

Most Read

Caledonia Water bags infrastructure contract with Scottish Water

Caledonia Water bags infrastructure contract with Scottish Water

Caledonia Water Alliance – a Morrison Utility Services and AECOM joint venture – has landed a six-year extension on its water infrastructure contract with Scottish Water Following confirmation of the new agreements, from 2021-2027 Caledonia Water Alliance (CWA)

Skanska bags £135m revamp of Canary Wharf’s first office

Skanska bags £135m revamp of Canary Wharf’s first office

Skanska has won the contract to deliver the main structural revamp of Canary Wharf’s first major office at 30 South Colonnade in London Docklands.The major office deal is its second to be signed off this week after confirming an £83m contract with Royal London Asset Management to build

MWH Treatment secures key role on Scottish Water framework

MWH Treatment secures key role on Scottish Water framework

MWH Treatment (MWHT), together with partner Galliford Try, has successfully secured a six-year contract extension on Scottish Water's non-infrastructure framework for the Strategic Review 2021-27 (SR21) investment programme. MWHT, a sector leading solution provider operating across the UK water

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.