VINCI St Modwen has been selected as Covent Garden Market Authority’s private development partners for the redevelopment of New Covent Garden Market.
The Government has approved the project’s Final Business Case to pave the way to award the contract to VSM as the winning bidders. CGMA hope to have finalised the contract this summer.
VSM will now lead the delivery of new market facilities funded by developing land not needed for the new market. The Market will remain in CGMA’s ownership and, says CGA, there will be no call on the public purse.
The development sites will see new homes and shops alongside commercial and public open space.
CGMA’s outline planning application for the Market is due to be heard by Wandsworth Council’s planning committee in May.