£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

Costain to pave the way for UK’s first electric motorway

Costain to pave the way for UK’s first electric motorway

The consortium has proposed an ‘electric road system’, using the Siemens Mobility ‘eHighway’ technology, as the fastest, lowest carbon and most cost-effective route to decarbonising our road freight industry and delivering cleaner air.   It

UK employers struggle with worst labour shortage since 1997

UK employers struggle with worst labour shortage since 1997

  Britain’s employers are struggling with the worst staff shortages since the late 1990s, amid the rush to reopen from lockdown and a sharp drop in overseas workers due to Covid and Brexit.   Sounding the alarm over the risks to economic recovery from acute labour shortages,

7 companies appointed to Scottish Water’s wastewater portfolio

7 companies appointed to Scottish Water’s wastewater portfolio

Scottish Water forecasts to spend £1bn a year on thousands of miles of water pipes, sewer networks, treatment works and other assets to ensure they continue to play a vital role in the daily lives of five million people.   The programme of work will help to deliver net zero

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.