Out-Law News 1 min. read
25 Oct 2011, 4:30 pm
The application has been submitted by the new Covent Garden Market Authority (CGMA) to redevelop the site, which includes plans to create a new market facility, replace the 40 year old buildings and infrastructure, and create a food and flower centre for London.
To fund the above facilities, the redevelopment of the 3.73 million square feet development includes provision for 2,450 homes, commercial space, a hotel and additional public space.
Plans for the new Covent Garden Market include five newly built buildings for wholesale and catering, which will be situated next to a new dedicated London flower market.
The plans also propose a new publicly accessible 'centre for food and flowers for London', which will be based in a purpose-built building called "The Garden Heart". Residential units will be located on the upper floors of the Garden Heart building and will create around 110 new homes.
The application proposes a cluster of high rise towers near Vauxhall, which range from 30 to 47 storeys high. The towers will be used to provide a new hotel in the tallest tower and serviced apartments will be located in the upper floors of the remaining towers.
A new park called 'Linear Park' is proposed as part of the development. It will run from Vauxhall through to Battersea Power Station and will cover 4.22 hectares of open land.
The plans show that there will also be nine new residential buildings, between 11 and 17 storeys high, surrounding the 'Linear Park', which will create just over 1,600 new residential units.
Surrounding the new market and the 'Linear Park' there are a number of pockets of land that will be used to provide more residential units and community areas.
There is also extensive commercial space planned near Wandsworth Road. The planproposes a mix of shops, cafés, restaurants and a new supermarket, which is aimed at providing more choice to the local community.
"Our vision is for a modern new market, replacing buildings and infrastructure which are now nearly 40 years old, to become a new centre for food and flowers in London," said Jan Lloyd, CGMA chief executive.
"We have had strong support from our partners and the local community throughout our pre-application consultations and I now look forward to further discussions with the council and others as we take this through the planning process," said Lloyd.
CGMA has also confirmed the submission of final tenders by potential private development partners for the scheme, Bouygues UK and Carlyle Group and St Modwen Properties and Vinci. The successful bidder will be confirmed in spring 2012.
