CGMA searching for developer for its Covent Garden Market project

Published: 12-Mar-2010

Covent Garden Market Authority (CGMA), the body overseeing the GBP1 billion ($1.5 billion) redevelopment of the New Covent Garden Market in Vauxhall, has started looking for a development partner.

The plans for the 57 acre site are being developed by Foster and Partners and form part of the wider Nine Elms regeneration project. The site is near to the home of the new US embassy in Vauxhall, as well as Battersea Power Station. The plans would see the existing market facilities being replaced with four new buildings, alongside more than 2,000 homes, a hotel, supermarket and other retail and leisure uses.

The development partner will be given land and in return would be asked to build a new fresh produce market on the site. This would be built and paid for by the chosen private development partner, but will remain within the ownership of CGMA. There is around 20 acres of land available for mixed use development.

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