Plans have been approved for the £2 billion redevelopment based in Covent Garden, alongside the extension of the Northern line Tube service.

The scheme known as the New Covent Garden Market in Nine Elms will see up to 3,019 homes built, 20 percent will be reserved for qualifying Wandsworth residents to buy or rent through affordable housing schemes, along with shops, cafes, bars and offices.

The hybrid application was submitted by Vinci St Modwin which is Covent Garden Market Authority’s development partner.

The project will see the 40 year old structure upgraded and modernised which will be paid for by a series of mixed use developments on areas of the site which are no longer needed for market operation.

Sarah McDermott, Chairman of the Council’s Planning Committee, hopes this will become the source of a number of local jobs and revive the area around the new site.

“The market is the biggest single development site in Nine Elms and an incredibly valuable source of local jobs. Its revival is key to our vision for the area and the redevelopment of its perimeter sites will fuse together key sections of the new people-friendly environment we are creating here.” she said.

Part of the scheme will also fund the improvement to local transport which will see the Northern Line expanded to include the site and Battersea.

The application also includes roof top football pitches, a gym, a doctors surgery and a new retail market built alongside a visitors centre and education centre based on the food industry.

Sarah McDermott added: “The current flower market site would make way for a series of new buildings including three towers which will form part of the Vauxhall tall building cluster. At ground floor level this site will open up to the public and provide part of the Nine Elms linear park.

“A large part of the land currently used as the main vehicle entrance to the market from Nine Elms Lane will also be released for a mixed use development and another section of linear park.

“At the east end of wholesale market there will be a new visitor’s centre showcasing the food industry and at the western boundary the long brick wall along Thessaly Road will be replaced with a new line of high quality homes. This will be a huge improvement to the look and feel of the Patmore [neighbourhood].”