Time Out Group is bringing its food and cultural market concept to London after agreeing a long-term partnership with The Crown Estate.
CGI of 10 Piccadilly. Credit: Cityscape and Piercy&Company
The agreement will see the firm open Time Out Market, set to be its global flagship, at the 10 Piccadilly development (formerly known as 55 Regent Street) once it is completed in the summer of 2028.
The West End destination will span 27,000 sq ft across three floors, with around 15 restaurants, bars and food operators, and represents a seven-figure investment from the company.
By the time it opens, the market is expected to be the 18th or 19th Time Out Market worldwide. Time Out said it marks a significant commercial milestone as it continues to expand the market portfolio.
The firm added that the move reflects its continued confidence in London’s visitor economy and willingness to invest in the ongoing regeneration of the West End.
The market will sit within the gateway to Regent Street and Piccadilly Circus, benefitting from the 74 million annual visitors to Regent Street.
Alongside its culinary offering, Time Out Market London will host live music, performances, talks and other cultural events.
Time Out added that in partnership with The Crown Estate, the project will incorporate sustainability principles including energy-efficient building systems, initiatives to reduce food waste and a focus on local sourcing where possible.
Chris Ohlund, chief executive of Time Out Group, said: “Securing this partnership with The Crown Estate to create our global flagship in the heart of Piccadilly Circus is one of the most significant milestones in Time Out’s nearly 60-year history. Bringing the globally recognised Time Out Market concept home to London is both a celebration of where we began and a statement of where we are going.
“London is one of the world’s greatest cities for food and culture, and there is no better location than Piccadilly Circus to showcase everything that makes it extraordinary. Together with The Crown Estate, we are creating a destination that will celebrate London’s best chefs, restaurateurs, artists and creators, while welcoming millions of Londoners and visitors every year.
“As our global flagship, Time Out Market London will also become the blueprint for the next generation of Time Out Markets, bringing together hospitality, culture, media, sponsorship and live experiences in a way that only Time Out can deliver.”
Charles Owen, head of Regent Street at The Crown Estate, said: “We’re proud to welcome the UK’s first Time Out Market to Regent Street as the brand’s global flagship.
“It is a significant addition to one of the world’s most recognised retail and lifestyle destinations. It reflects the area’s continued appeal to innovative international brands and demonstrates our long-term commitment to investing in Regent Street, curating a diverse mix of experiences that attract visitors, workers and residents alike.
“Set within this carefully restored historic building, Time Out Market will introduce an exciting new food and drink destination in the heart of London’s West End. As significant investment and development continue to take shape across the area, it will further strengthen Regent Street’s hospitality offer, helping to drive footfall, broaden the destination’s appeal and meet growing demand from the millions of people who visit, live and work here each year.”
Further details, including the culinary line-up and opening date, will be announced closer to the market’s launch.
The Time Out Market was first launched in 2014 in Lisbon, Portugal, and currently operates across 13 markets, with over 12 million visitors annually.
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