A new food market will be coming to Shoreditch in 2017.
The market is expected to house 17 food stalls, 4 bars, a shop, an art gallery, and a cooking academy.
Time Out Venue
This project is believed to be inspired by the success of the Time Out market in Lisbon, which was launched back in 2014. It now welcomes 2 million visitors a year, making it certainly an all-out success.
As a result, Time Out – the company also behind the magazine series and the website – have decided to open more venues. They have their eyes set on a space in Shoreditch, at 106 Commercial Street. The space was previously home to a vintage market, but is now set to be redeveloped in preparation for the food stalls.
The site is estimated at around 19,250 square feet, giving plenty of room for consumers to stroll around inside the various attractions. With a shop and art gallery on site as well as the cooking school, this will certainly be an ambitious project, going above and beyond the normal market fare.
Shoreditch is certainly an up-and-coming cultural area, with a thriving art community and plenty of foodie delights and small market areas already open. This latest addition is sure to only increase the charm for visitors looking for a place to grab lunch or a late meal before heading out in the evening. It also guarantees that there are going to be some new chef jobs opening in the area, as well as serving positions and of course teaching staff at the academy.
Time Out Ambitions
Along with the Shoreditch site, the Time Out group have also decided to launch similar projects in New York as well as the Sao Bento train station in Portugal. Miami is also rumoured to be on the cards around the same time as the New York addition. This means that there are soon to be plenty of international food jobs around if you wish to work in one of these markets.
Chief executive Julio Bruno said: “I’m absolutely delighted to announce that we will be bringing our unique Time Out Market format to London. This is not only one of the world’s most vibrant and exciting cities, but also the birthplace of our iconic brand. Opening a Time Out Market here is an incredible milestone for our brand and our growth strategy. Inspiring and enabling people to experience the best of a city is at the heart of everything we do. Now we’re bringing this ethos to life in Time Out Market which we believe Londoners and visitors are going to love. It will be a uniquely designed location to capture the very soul of this great city.”
Time Out is enjoying a period of focused growth after a junior stock market flotation in the summer. The enterprise began as a listings magazine based in London in 1968. It is clear that they now have ambitions to continue growing in other directions.
The Lisbon venue has seen key success which have certainly made these new projects seem more viable. They had revenue growth of 106% over the first six months of 2016, with 1.3 million visitors heading through the doors during that time.
While the traditional publishing side of the Time Out group may be struggling, this new direction will give them revenues to support the brand as a whole. It’s though that the London venue will become their flagship, a base from which they expand to plenty of other cities around the world. Assuming, of course, that it is a success.