New Covent Garden Market redevelopment
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Transcript of New Covent Garden Market redevelopment
New Covent Garden Market Redevelopment
• 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
History
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 TodayFlower Market 11%*
Traditional Fruit & Vegetable 31%*
Wholesale Distribution 58%*
• 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
* By Turnover
RedevelopmentWhy 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• 35 year old facilities• Ageing buildings• Inflexible trading units• Poor circulation/congestion• Out of date services• Drainage issues• Poor use of space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
SiteFlower Market
10 acres
Covent House
0.5 acres
Entrance Site
3 acres
Main Site
44 acres
Redevelopment – Timetable
Spring 2010Summer 2010 Spring 2011Summer 2011Autumn 2011Winter 2011/12Spring 20122013
started search for private development partnershortlisted of interested private development partnersfinal short list of private development partnersoutline planning application submittedselect private development partneroutline planning application decisionprivate development partner contract signedwork begins
Vision• CGMA will create a modern food and
flower wholesale market by:-
1. NCGM• Delivering outstanding levels of service, value and
sustainability2. 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 Gardenat New Covent Garden Market
More than just a MarketMore 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 siteA green new city quarter in the centre of Vauxhall
Plus...
Thessally Road
College Site
TransportImproved 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 MarketMore than just a Market