Covent Garden Market Authority starts search for development partner

Covent Garden Market Authority (CGMA), the body that is overseeing the £1billion redevelopment of the New Covent Garden Market in Vauxhall, has started the search for a development partner.

The plans for the 57 acre site are being developed by Foster and Partners and are part of the wider Nine Elms regeneration scheme. The site is near to the home of the new US embassy in Vauxhall and Battersea Power Station.

The plans will see the existing market facilities replaced with four new buildings, alongside more than 2,000 homes, a hotel, supermarket and other retail and leisure uses.

The development partner will be given land and in return will be asked to build a new fresh produce market on the site. This would be built and paid for by the chosen private development partner, but will remain within the ownership of CGMA.

There are about 20 acres of land available for mixed use development.