The £2bn New Covent Garden Market redevelopment and the £500m Northern Line Extension in the Nine Elms opportunity area have been given the go-ahead.
Wandsworth Council gave the green light to Vinci and St Modwen’s New Covent Garden Market, which will deliver up to 3,000 homes once complete.
The redevelopment will also include 500,000 sq ft of modern market facilities, 135,000 sq ft of office space and 100,000 sq ft of retail, leisure and community facilities.
The scheme will benefit from the new Northern Line Extension, which was approved by the transport secretary this week.
Director of Infrastructure at business group London First David Leam said the Northern Line announcement was “a fantastic early Christmas present for London”.
He said: “Not only does the NLE unlock the transformation of Battersea and Vauxhall, it also gives London a model for funding new infrastructure with a reduced reliance on central government grant.”
The extension is from Kennington to Battersea via Nine Elms and is estimated to support 24,000 new jobs and more than 18,000 new homes.
A Ferrovial/Laing O’Rourke joint venture will begin construction in 2015.
New Covent Garden Market
The redevelopment has been broken down into five sites.
- 500,000 sq ft in total, with a 50,000 sq ft flower market, as well as additional buildings
- The ‘Garden Heart’ building will include an education and visitor centre
- Cafes, bars, restaurants and takeaways
- Mixed-use across seven buildings
- Three buildings between one and four storeys high and four between 16 and 26 storeys high
- The scheme will be residential-led with up to 623 homes, as well as retail uses
- Public open space and car and cycle parking space
- New high-rise buildings for up to 1,900 homes as well as retail and office use
- The ‘N8’ building will be 54 storeys high
- Two further buildings will be up to 46 and 36 storeys respectively
- There will also be a 10-storey building and 10 buildings between five and 32 storeys
- Temporary flower market comprising 88,113 sq ft as well as a temporary car park
- Once construction of the permanent flower market is complete, the site will look to deliver up to 430 new homes, as well as retail and office space
- Three residential buildings of six storeys for up to 51 homes