Proposals, worked up with Neil Tomlinson Architects, will be lodged with Wandsworth Council this week

Plans by Foster & Partners and Neil Tomlinson Architects for the regeneration of London’s 57-acre New Covent Garden Market site will be submitted shortly.

The proposals, part of the capital’s huge Vauxhall, Nine Elms & Battersea Opportunity Area, will be lodged with Wandsworth Council this week and aim to deliver new market facilities and a food centre paid for by the issuing of development rights on the surplus areas of the site.

The wider scheme includes 2,450 homes, shops, commercial space, a hotel, and public open space and - in total - client Client Covent Garden Market Authority (CGMA) is seeking outline consent for 347,000 sq m of development (3,734,000 sq ft).

The two final bidders for the project are Bouygues and Carlyle Group, and St Modwen Properties working with Vinci. Both have submitted full OJEU tenders.

The winning bidder will become CGMA’s private development partner, and an announcement is expected in Spring 2012 following assessment and government approval.  

Speaking at an event at the House of Lords to mark the CGMA’s 50th anniversary, the organisation’s chairman Baroness Brenda Dean said: “We are delighted to have two such high quality bids from exceptional companies capable of delivering.  The time, effort and money already invested by these companies in reaching this stage, together with the robustness of the bids themselves, demonstrates without question that our vision is deliverable at no expense to the taxpayer and is an attractive proposition for the private sector which is vital for this development to be bought forward.

“Together with the submission of the planning application materials to Wandsworth Council, it has been an excellent week in which to celebrate the 50th anniversary of the Authority and it is a pleasure to chair the organisation through such exciting times.”

Jan Lloyd, CGMA chief executive, said: “The submission of our outline planning application is the culmination of years of analysis and preparation as we work to provide modern new facilities for our tenants and their customers alike.