£2bn New Covent Garden Market redevelopment gets planning permission
The London Borough of Wandsworth has approved plans put forward by the Vinci St Modwen (VSM) JV and its partner, the Covent Garden Market Authority (CGMA).
The project involves redevelopment of a 57-acre site. Over the next 10 years, a new 500,000-ft2 market will take shape on 37 acres, while the remaining 20 acres will be developed into three residential neighbourhoods comprising approximately 3,000 new homes, 135,000 ft2 of office space and 100,000 ft2 of retail, leisure and community facilities.
St Modwen chief executive Bill Oliver 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.”