New Covent Garden Market has been given the green light by Defra to push ahead with its redevelopment project.
The approval means Covent Garden Market Authority can begin the process of looking for a private development partner for the site, which it is expected to do next year.
The 57-acre facility in Vauxhall is regarded as uneconomical without major redevelopment. The business plan outlines a number of options, which provide for a trading area of up to 540,000 sq ft. The redevelopment could also include the establishment of a ‘food focus’ centre for London on the site.
“This is a major step in redeveloping New Covent Garden Market,” said CGMA chairman Baroness Brenda Dean. “We have been working tirelessly in the past two years to achieve this results, which will guarantee that our market has a future.”
The 57-acre facility in Vauxhall is regarded as uneconomical without major redevelopment. The business plan outlines a number of options, which provide for a trading area of up to 540,000 sq ft. The redevelopment could also include the establishment of a ‘food focus’ centre for London on the site.
“This is a major step in redeveloping New Covent Garden Market,” said CGMA chairman Baroness Brenda Dean. “We have been working tirelessly in the past two years to achieve this results, which will guarantee that our market has a future.”
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