London's Covent Garden building project gets nod

[LONDON] Capital & Counties Properties, the London developer that owns most of Covent Garden, won approval to build 45 apartments in the district as well as shops and restaurants as property values in the city reach records.

The developer's project, covering 103,000 square feet (9,550 square metres), includes a pedestrian street between Long Acre and King Street to boost the number of people passing through Covent Garden. Westminster Council voted in favour of the plan at a meeting on Tuesday.

Capital & Counties Properties (CapCo) sold apartments in the district for about £2,400 (S$4,930) a square foot this year, a record for the area, it said in a Nov 15 filing.