St Modwen gets green light for New Covent Garden Market scheme
St Modwen has announced that its joint venture with VINCI and its partner the Covent Garden Market Authority has received resolution to grant planning permission for the redevelopment of the 57 acre New Covent Garden Market site in Londons Nine Elms.
The ten year project will see the delivery of over 500,000 square feet of new state-of-the-art market facilities across a 37 acre site. The remaining 20 acres of land will be transformed into three high residential neighbourhoods comprising approximately 3,000 new homes, 100,000 square feet of retail, leisure and new community facilities, and 135,000 square feet of office space.
Bill Oliver, chief executive of St Modwen and director of VSM, said: “Wandsworth Council’s decision allows us to contribute to the long-term transformation of London’s newest residential and commercial quarter whilst securing the future of New Covent Garden Market by delivering vitally important world-class market facilities.”
Pam Alexander, chair of CGMA, added: “New Covent Garden Market is central to supplying London’s fresh produce. With our development partners VSM, we can now deliver the modern facilities that will enable our 200 business to grow and thrive whilst welcoming the public to a new Food Quarter for London.”
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