St Modwen signs for New Covent Garden Market project
St. Modwen Properties today announced that it and its joint-venture partner Vinci have signed a deal for the £2bn development of the New Covent Garden Market site – another major project in the Nine Elms district in Central London.
The ‘landmark multi-phased project’ will involve the rationalisation and master planning of the whole 57-acre site next to Vauxhall Cross, the company noted. This will see the development of around 550,000 sq ft of new facilities to house the fruit, vegetable and flower market – funded by the release of 20 acres of surplus land. This land will be developed to provide 115,000 sq ft of commercial property and up to 2,800 new homes.
