The Covent Garden Market Limited Partnership, owned by Scottish Widows Investment Partnership and Henderson Global Investors, has sold the Covent Garden market in London to Capital & Counties for £420m.

The assets consist of 31 properties, including the market itself and the London Transport Museum, in an area totalling more than 450,000sq ft (41,800sq m).

John Saggers, managing director of Capital & Counties, said: “As long term investors, we look forward to working with the Covent Garden Area Trust and other local stakeholders in finding ways to evolve and upgrade the quality, offer and value of the market and piazza as well as the surrounding streets.”

Covent Garden was put on sale in June this year for around £350m.

Capital & Counties is the investment and development arm of Liberty International, the UK property company. Details: www.capital-and-counties.com