Covent Garden £2billion Regeneration
Posted on: 25/11/2014

Covent Garden, the largest wholesale market in the UK, will undergo massive redevelopment in the following year worth over £2 billion.

Last week planning permission was given to VINCI St Modwen (VSM), a 50/50 joint venture between VINCI PLC and Modwen Properties PLC, which will see a complete regeneration of New Covent Garden. Facing a redesign of a 57 acre site VSM has a big job ahead of it, but they are determined that together they can provide an elegant upgrade to the somewhat aged marketplace, returning it to its former glory as the UK’s biggest and best fresh produce market and build.

Bill Oliver, Chief Executive of St Modwen commented on the project that “these plans present a world class development that will create jobs, attract investment and transform this important part of the wider Nine Elms regeneration project.”

Of further note, is that 2 acres of surplus land is being sold to fund the project, and will be redeveloped to contribute thousands of much needed new houses to the London area. This plot will be completely revamped to become a residential neighbourhood with 3,000 new homes, including a 54-storey tower, and over 235,000sq ft. of combined office and retail space.

These projects will create hundreds of jobs during the development and will continue to expand the economic and social opportunities, Councillor Sarah McDermott; chairman of the planning committee reiterated this view in saying “the market is the biggest single development site in Nine Elms and an incredibly valuable source of local jobs. Its revival is key to our vision for the area and the redevelopment of its perimeter sites will fuse together key sections of the new people-friendly environment we are creating here.”

At Blueprint we appreciate the need for regenerations of city areas such as this, and so we want play our part by providing the best contractors possible to support this work.

If you would like to get involved in such projects and are currently looking for contract or staff positions, have a look on our building services jobs page to see what current vacancies we have available.

Alternatively give our team a call on 02392 603030 to have a chat in confidence.

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