Tenants at New Covent Garden wholesale market have expressed dismay that they have had no official communication from the Covent Garden Market Authority about the resolution of court proceedings related to the market’s redevelopment.
Construction firm Bouygues filed a claim in the summer seeking a debrief on why it lost out on the £2 billion redevelopment project to a rival bid. The winning bidder, announced in March, is a joint venture between construction and propertyfirms Vinci and St Modwen.
The CGMA told FPJ this week: 'We can confirm that the proceedings issued by the Bouygues/Carlyle consortium against CGMA in relation to the procurement for the redevelopment of NewCovent Garden Market have now been resolved. Discussions with Vinci-St Modwen, CGMA’s selected private development partner, have now restarted.”
But tenants still have issues with elements of the proposed redevelopment and a 'lack of communication' has left many frustrated.
Gary Marshall, chairman of Covent Garden Market Tenants' Association, said: “We are upset, shocked and bemused and do not think it is at all correct that we have not heard officially from the market authority on the resolution with Bouygues. I think it shows just how the authority regards the excellent tenants on this market and that is not very highly.”
