Several major construction companies are among the six bidders shortlisted for the 拢1bn redevelopment of New Covent Garden Market in Vauxhall, south London.
Client Covent Garden Market Authority has picked the following teams for the next stage of the bidding process: Barratt and Kier; Berkeley; Bouygues; St Modwen; Stanhope; and the Garden Development Partnership with Skanska.
The Authority is looking for a partner to redevelop the 23-hectare Nine Elms site, which would include a a fresh produce market, and a residential-led mixed-use scheme. It estimates a development value of 拢1bn.
The new market, which will cover 550,000 sq ft, will be built and funded by the private development partner, but remain in the ownership of the CGMA.
The mixed-use development, which would comprise 2,300 homes, plus commercial buildings, shops, community facilities and a hotel, would cover around eight hectares.
CGMA will cut the shortlist down to three and expects to select its private development partner in June 2011.
It will also submit a planning application for the redevelopment of the site to Wandsworth Council in late 2010.
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