Redevelopment News 10.19
Message from Daniel Tomkinson, CEO of Covent Garden Market
The redevelopment of the market is essential, to modernise the market’s infrastructure and create a thriving, modern wholesale market fit for the 21st century. CGMA believes that the new market will work and is committed to its completion.
However, legal action being taken by the Covent Garden Tenants Association (CGTA) could delay the next stage of the redevelopment, with serious implications for tenants and the future of the market.
Whatever the outcome, there will be no winners if the legal case goes ahead.
TRIAL DATE BROUGHT FORWARD
You may know that the CGTA is taking legal action against CGMA relating to the end state design of the new market and this has been linked with the move of Phase One tenants. As a result, tenants who were due to move in Phase One of the redevelopment chose not to accept our offer to relocate them to space in the new market.
Last month, the court agreed to CGMA’s request to bring forward the date of the High Court trial and a four-week trial will take place in October 2020. We are pleased that the court agreed it was in the public interest to speed up the legal process, however we would rather avoid legal proceedings altogether.
LITIGATION COSTS
The tenants’ legal team estimates that litigation will cost tenants over £4 million in legal fees over the next nine months. CGMA is already using all available funds at its disposal to cover mounting legal costs that could reach a similar amount. That means a total of £8 million could be spent on legal fees before next October that could instead be directed towards improving market facilities.
WHAT HAPPENS NEXT?
Unless CGMA can reach an agreement with the CGTA, there will be a four-week High Court trial in October 2020. However, we continue to want to resolve issues without going to trial so that we can secure the future of the market. We have been open about what aspects of the design can and can’t be changed at this stage and provided all the information asked for by the CGTA’s experts.
If you have any concerns or ideas that you wish to share with CGMA, we want to hear from you, so that we can avoid legal action and instead focus on working together to build the future for this iconic market, which we are all proud to be a part of.
Update on the New Fruit and Veg Market, Phase One
We are on schedule to complete Phase One of the new Fruit & Veg Market on time. The first sections of West and Central Blocks will be ready for tenant fit-outs to begin during November 2019.
As some tenants in Phase One have chosen not to accept the offer of space in the new market, we are currently marketing the available space in the Fresh Produce Journal and other industry media and have received a number of enquiries.
If you are one of the Phase One tenants who chose not to accept our offer of space and are having second thoughts as to your decision, then we would strongly recommend that you speak to us sooner rather than later.
If your business is interested in leasing additional space, please get in touch with Sean McVeigh (sean.mcveigh@cgma.co.uk) or Michael Sharkey (michael.sharkey@cgma.co.uk) in our Property team as early as possible to discuss what space we may have available and options.
PHASE TWO UNITS
Phase Two consultations are underway and we would encourage tenants to get in touch with Tony Carter (tony.carter@cgma.co.uk) or Sean McVeigh (sean.mcveigh@cgma.co.uk) as early as possible to discuss any queries or concerns you may have, so that we can address them if reasonably possible.
FREQUENTLY ASKED QUESTIONS
Jo Breare, Operations Director answered common queries about condensation, power supply, ceilings, width of units, strength of the hardstanding, timed deliveries, Buyers Walk, Sunday Market and in-rack sprinklers, in the August and September issues of Redevelopment News, which are available online at https://brand.newcoventgardenmarket.com/news
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Work begins on Arch 42
Transport for London (TfL) has begun construction works inside Arch 42, which will provide a pedestrian and cycle link to the Nine Elms area when the Northern Line Tube extension opens in autumn 2021.
TfL will construct a six-metre wide pedestrian and cycle path across the Market connecting Pascal Street to Ponton Road via Arch 42. Its exact route is still to be determined but it could temporarily follow the current path around the blue site hoardings that enclose TfL’s construction site. We will provide more information to Market tenants as this work progresses.
The Northern Line Tube extension will enable the regeneration of the Vauxhall, Nine Elms and Battersea areas, supporting 20,000 new homes and 25,000 jobs. It will also bring Nine Elms within 15 minutes of the City and West End.
Works on the old Flower Market site
Vehicles that are exiting the market onto Wandsworth Road, are currently being diverted through the right hand railway tunnel. This is to enable R&F Properties to construct a temporary cabin structure on the grass verge on their land on the other side of the railway tunnels, shown in red below. We will provide an update when the traffic diversion is due to end.
Temporary road layout between B and C Row postponed
Due to the drainage works that took place on the South Loop Road during October, and statutory water works that are currently taking place on the site, we have postponed the planned drainage works and temporary road layout between B and C Rows until the New Year, to reduce disruption during the market’s busy trading period.
Post Office relocated to the Food Exchange
After 30 years based inside Unit 7 on the West Bridge, the market’s Post Office has relocated to the ground floor of the Food Exchange.
Managed by Raj Patel and funded by the market community, the Post Office will be open for longer hours in its new location, from 4am until 1pm, Monday to Friday, and continues to offer a range of postal services, cash withdrawals and other free services including travel money.
Removal of the West Bridge
We are currently planning the final demolition and removal of the bridge, which will begin in early 2020. We will notify you as soon as possible about any potential impact or temporary road layouts.
Multi storey car park lift replacement
Work continues to replace the second lift in the multi storey car park. This work should be completed by early 2020, to allow for demolition of the link bridge.