The company has secured a 16,000 sq ft site to launch a 'lifestyle destination' complete with a home and garden shop, delicatessen with a wine cellar and florist, and the two restaurants.
The Floral Court development, which will take over a central courtyard area with access from King Street and Floral Street, will launch in two phases.
The Potting Bench shop, delicatessen, florist and wine cellar is to open in June, while the two restaurants, The Petersham and La Goccia, will follow in September.
Petersham Nurseries was launched by the Boglione family in Richmond, Surrey in 2004. Its café won a Michelin star under chef Skye Gyngell in 2011, which it retained until 2013 following her departure.
Lara Boglione, the eldest daughter of the Boglione clan, will oversee Floral Court.
In a statement announcing the launch the company said it was hoping to celebrate ‘nature, seasonal ingredients and slow living’ in Covent Garden.