JLL Residential

Nine Elms - Land

Nine Elms Land Case Study
Project: New Covent Garden, London Borough of Wandsworth 
Client: VSM (Vinci & St Modwen JV)
Date: Q4 2012 - Present

situation

The New Covent Garden Market in Vauxhall is an ageing facility. During 2013 a development partner was sought to deliver a new market facility and a large residential led, mixed use scheme on the surplus land. JLL were appointed by VSM to provide development consultancy advice throughout the lifetime of the project. The completed development has a GDV in excess of £2bn and the revised planning consent encompasses over 2,000,000 Sq ft of development.

brief

The CGMA requested that VSM produce a strategy to minimise development disruption whilst maximising the value of the asset. Further value through a revised planning consent delivers overage to CGMA, therefore a comprehensive development strategy was required.

outcome

  • Successful representation of the client to preferred bidder of the Development Agreement.
  • Market facing development consultancy and immediate experience in the locality gave competitive edge.
  • Ongoing role towards delivery.