Work on £2bn New Covent Garden Market to start this summer

Work on £2bn New Covent Garden Market to start this summer

 

Enabling works on the New Covent Garden Market in Nine Elms is expected to start this summer, it has been announced. Commercial Planning agreements have now been reached between joint venture development partners, Vinci St Mowden, and the Covent Garden Market Authority (CGMA).

 

The project will take approximately 10 years to complete and will involve regenerating 500,000 sq ft of new market facilities across a 37 acre site, housing 200 market businesses.

 

20 acres of land will be used to develop 3,000 homes, 135,000 sq ft of office space, and 100,000 sq ft of leisure and community facilities, such as cafes, restaurants, “incubation spaces” for food start-ups, and shops.

 

Bill Oliver, Director of VSM, said: “This latest milestone enables the start on site of this major transformational project which is central to the Nine Elms Regeneration area. It will deliver a substantial positive economic impact in terms of employment, housing, and investment for London.”

 

Bruno Dupety, Vinci’s Chairman and Chief Executive, also commented: “We are looking forward to starting on site to get this exciting project underway. It will transform this area of central London for those who live and work there, in particular the market facilities.”

 

The £2bn scheme is the largest in the Nine Elms Regeneration area, which is also home to the Battersea Power Station redevelopment site and the new American Embassy.

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.