 |
 |
|
 |
||
 |
||
|
||
 |
||
|
||
 |
||
|
||
 |
||
|
||
 |
||
|
||
 |
||
|
||
 |
||
|
||
 |
||
|
||
 |
||
|
||
 |
||
 |
HISTORY As a result of their actions, a comprehensive planning document was conceived in 1978. The Covent Garden Area Action Plan was written and brought into being by discussion between the Greater London Council, Westminster and Camden Councils and the local cornmunity. When, in 1985 it became apparent that the Greater London Council was to be removed by Central Government, and its powers devolved upon local authorities, the people of Covent Garden were greatly concerned to ensure the continuance of the precepts of the Area Action Plan. The Greater London Council was a major landowner in the Covent Garden area and the Covent Garden Area Trust was formed with a view to protect as much ex-GLC property as possible to enable the wise management policies enshrined in the Area Action Plan to be continued. The London Residuary Body was created by the Government to dispose of all the ex-GLC property and, after lengthy negotiations, the Trust secured a form of tenure which successfully achieved its aims. The ex-GLC properties were sold by tender but special arrangements were made in respect of the “Covent Garden Protected Lands” which are the Central Market, 25-31 James Street, 7, 9, 10 Floral Street, Bedford Chambers and Cubitts Yard and the Museum Blocks. In 1988 these properties were sold to GRE Properties Ltd (part of Guardian Royal Exchange Group) but a 150-year lease was granted to the Trust, giving the Trust specific powers and duties over the Protected Lands. Annual rent payable by the Trust for each underlease is one red apple and one posy of flowers! For its day-to-day running, the Trust relies on the income of ground rent. Since 1988 there have inevitably been changes in ownership of the freehold of the Protected Lands. In June 2000, the freehold of all but the James Street/Floral Street properties (managed for the NatWest Pension Fund by Lothbury) was acquired by Scottish Widows Investment Partnership Limited who then, together with Henderson Global Investors in the Spring of 2001, formed the Covent Garden Market Limited Partnership which owned not only the Protected Lands, but also several other properties within the Covent Garden area. In August 2006, this portfolio of properties was sold to Capital & Counties (a subsidiary of Liberty International) for a sum of £421m. Throughout these changes of freeholder, the Trust has retained its element of control over developments and is ever vigilant in its conservationist role. Over the last few years, the Trust has built up a useful collection of books, photographs and documents about Covent Garden in particular, and London generally. Researchers and students are welcome to visit. (Telephone or email the Trust’s Administrator to make an appointment.) In 1997 the Trust published the Environmental Study of Central Covent Garden (funded partly by Westminster City Council, English Heritage and Guardian Properties). This highly-researched and useful handbook contains a set of coherent recommendations relating to the facades of the buildings of the Piazza and surrounding streets and to the successful management of the spaces between them. The follow-up study, Caring for Covent Garden: A Conservation and Management Guide, was published in May 2004.
Covent Garden
Area Trust |
|