Plans to redevelop Britain’s biggest flower and vegetable market in Nine Elms on the South Bank have been given the go-ahead by Wandsworth Council.
St Modwen and joint venture partner Vinci were picked in 2012 to redevelop New Covent Garden Market, which moved to Nine Elms from the Covent Garden area near the Strand 40 years ago.
The 10-year project, which was approved on Wednesday night, will see the complete overhaul of the 57-acre site, including 550,000 square feet of new facilities to house the market’s 200 businesses and 2,500 staff.
In return for funding the construction of the market, St Modwen and Vinci will gain 20 acres of surplus land on the site, which will then be developed to create 2,800 new homes as well as 235,000 sq ft of offices, shops, restaurants and public space.
The decision came as ministers this week approved the extension of the Northern Line in Nine Elms.
Pam Alexander, chairman of the Covent Garden Market Authority, hailed the market as “a key landmark” and said the new facilities “will enable our 200 businesses to grow and thrive” while creating a new food quarter for Londoners.