April 3, 2012 LCA News
Covent Garden Market Authority (CGMA) has announced VINCI and St Modwen (VSM) as their preferred development partner to lead the regeneration of the New Covent Garden Market site and create modern new market facilities for its 200 tenant businesses.
The 57 acre site next to Vauxhall Cross forms a key part of the Nine Elms area and is one of London’s largest development opportunities. Acting as the gateway to the Vauxhall, Nine Elms & Battersea Opportunity Area, the plans form a vital part of its wider regeneration.
The Government has approved the Final Business Case for the regeneration project paving the way for CGMA to appoint a consortium of VINCI and St Modwen, formed specifically for this bid, as their preferred development partner. They will now enter into a contract with CGMA to develop the site and deliver a new Market alongside new homes, commercial space and public open space. Their winning bid scored the highest marks in the final stage of the procurement process which started in 2010.
More details about VINCI St Modwen plans for the site will be announced once the contract has been signed in the summer. In the interim period CGMA will look to work with VSM to ensure their tenants are fully engaged in the final designs for the Market.
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