Plans submitted for regeneration of New Covent Garden Market
A planning application has been submitted for the regeneration of the 57 acre New Covent Garden Market site in London¬ís Nine Elms which will include the creation of 100,000 sq ft of retail space.
A joint venture between St Modwen Properties and Vinci in partnership with Covent Garden Market Authority, the multi-phased project is the largest proposed regeneration scheme in Nine Elms on the South Bank - a key development area in London for new mixed-use development.
The development will release 20 acres of surplus land which will be transformed into a high quality residential neighbourhood comprising approximately 3,000 new homes, 135,000 sq ft of new office space as well as new retail, leisure and community facilities.
The proposals will secure the future of New Covent Garden Market, the UK's largest fruit, vegetable and flower market, by providing over 500,000 sq ft of modern market facilities consolidated on one site for the 200 tenant businesses which employ over 2,500 people. This will sit alongside a new Food Quarter, part of the new market, known as The Garden at New Covent Garden Market.
Bill Oliver, chief executive of St. Modwen, 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. These plans and present a world class development that will create 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."
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