Henderson Global Investors has submitted a planning application for its proposed London retail and office development Smithfield Quarter.
The plans were designed by John McAslan + Partners following consultation work with the City of London and English Heritage over the last two years.
The scheme will regenerate the former general market, fish market, Red House buildings and engine house, which will be used for restaurants and retail lots after extensive refurbishment and some adaptations.
The majority of the Victorian perimeter of the general market and the entirety of the fish market and the old engine house will be retained and receive extensive restoration and refurbishment.
The proposed development is close to underground and rail links and is set to benefit from the Crossrail station at Farringdon that is due to open in 2018.
Henderson’s director of property development Geoff Harris said: “Our proposals are a thorough and legitimate response to the challenges of putting these buildings back into proper long term sustainable use, both in terms of heritage and in terms of the very real issue of commercial sense.
“We have listened during the public consultation process over the last few months and made amendments to our proposals where possible.”