Covent Garden London
The heart of London's West End
CGCA star gazer announces: "The year 2000 is likely to see a continuing stream of new 'flagship' outlets being opened in Covent Garden and small specialist shops being driven out".
The revitalising of the Covent Garden area, started by the GLC with the redevelopment of the former Market buildings into a shopping attraction, goes from strength-to-strength. With it comes the ugly face of commercialisation: bland, overpriced, high-street shops that you could find in any shopping mall or retail park in the country.
The special character of Covent Garden's many specialist outlets will disappear even further, with new record-breaking rents being achieved all the time. Demand for retail space in Covent Garden is still very high, whilst the lack of supply will fuel the situation.
Covent Garden is London's 3rd biggest shopping destination, after Regent Street/Oxford Street and Knightsbridge. It is estimated that the area now receives over 30 million visitors - half of all visitors to London! Covent Garden also has the largest collection of listed buildings in the country, which not only helps to create the special ambience, but which also stops the complete redevelopment of the area.
The Covent Garden Community Association continues to monitor development in the area. Its vigilance has stopped commercial pressures from taking control in many instances. The CGCA's considered, balanced objections often present real barriers to the many retailers and leisure industry companies that have set their greedy eyes on Covent Garden. Even planners and the Planning Inspectorate are beginning to realise that a slow-down is needed.
Opportunities for large retail sites are rare and usually fall prey to the many high street hopefuls and big names. Sainsbury will be opening a 25,000 sq ft store in Kingsway, opposite Holborn tube station, during 2000. Boots the Chemist has already secured 5,500 sq ft of space for itself within the same development. The list of large multinational & blue-chip companies is endless, both for retail space and for office accommodation.
The strength of the economy, both in the UK and in Europe, means continued upheaval for Covent Garden residents. The area sometimes resembles one large building site, with cranes, skips, lorries and noisy drills galore. The redevelopment of existing sites still brings remarkably few, if any, benefits to the residential community that is crucial to Covent Garden's special character. It is likely that only an economic recession can halt this sad process and restore some balance.
© Covent Garden Community Association, January 2000
[ Home | About | Advice | Cartoons | Contact | Gallery | Handbook | Links | News | Newsletters | Sponsors ]