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New Covent Garden Market Redevelopment


History • • • • • •

Covent Garden Market Authority Statutory Corporation Sponsored by Defra Set up in 1960’s Act of Parliament Legal Duty Provide wholesale horticultural market at Nine Elms Break even taking one year with another


Role of CGMA • Landlord for site – generate income from rent and service charges – no government subsidy • Responsible for – – – – – – – –

Leasing premises, collecting rent Roads, traffic and parking Cleaning and waste disposal Energy provision Site security, health and safety Building and plant maintenance Market promotion Business support and development


The Market Today Wholesale Distribution 58%*

Flower Market 11%*

Traditional Fruit & Vegetable 31%*

* By Turnover

200 businesses

Turnover £560m pa

c. 2,500 people employed

Supplies 40% of all fruit and vegetables on plates outside the home in London

Key hours of operation – midnight to 8am

4,000 vehicles per night


Redevelopment Why Redevelop? •

35 year old facilities • • • • • •

Ageing buildings Inflexible trading units Poor circulation/congestion Out of date services Drainage issues Poor use of space


Redevelopment • Following feasibility, Government approval for redevelopment in Autumn 2008 • Strategy – redevelop the land not needed for the market to raise money to pay for its reconstruction including a relocated flower market • Find a private development partner


Site Flower Market 10 acres

Entrance Site 3 acres Covent House 0.5 acres

Main Site 44 acres


Redevelopment – Timetable Spring 2010 Summer 2010 Spring 2011 Summer 2011 Autumn 2011 Winter 2011/12 Spring 2012 2013

¾ ¾ ¾ ¾ ¾ ¾ ¾ ¾

started search for private development partner shortlisted of interested private development partners final short list of private development partners outline planning application submitted select private development partner outline planning application decision private development partner contract signed work begins


Vision • CGMA will create a modern food and flower wholesale market by:1. NCGM •

Delivering outstanding levels of service, value and sustainability

2. Wider Business Community •

Creating an entrepreneurial focus for food and flowers in London

3. Local Community •

Being an active socially responsible partner

4. London and Beyond •

Becoming a catalyst for growth and regeneration

… more than just a market…. The Garden at New Covent Garden Market


More than just a Market


The Garden


The New Market • Five new buildings for food wholesalers • A brand new Flower Market • Flexible trading units • Better parking and delivery arrangements • New loading areas • New pedestrian access points • New “green” energy centre • Build and Decant


The Garden Heart • A focus for food for London • Link between market and the public


New homes, shops and open spaces

World class regeneration of former Flower Market site A green new city quarter in the centre of Vauxhall


Plus... Thessally Road

College Site


Transport Improved access for all −Better traffic flow around the site −Improved access to the site −Better emergency access −Potential new bus route −Pedestrian & cycle links/routes −Tube link


Nine Elms


More than just a Market


New Covent Garden Market redevelopment