Global media and entertainment company, Time Out Group has signed a conditional lease agreement with property developer LCR to open a Time Out Market in London, with planning already granted.
Time Out Market will anchor the £200 million Waterloo.London development, transforming the former Waterloo International Eurostar Terminal into an eclectic food, drink, shopping and cultural destination, bringing the format behind its highly successful Lisbon food and cultural market to London’s South Bank.
Hailed as the world’s first food and cultural market based on editorial curation, Time Out Market will bring the city’s most acclaimed chefs and restaurateurs, three bars and a space for cultural experiences – all in one unique space in the cultural heart of London. With the opening expected in 2021, Time Out Market London – Waterloo will be the centrepiece of LCR’s wider development, bringing 135,000 sq ft of local, independent and national retail and leisure occupiers to the South Bank.
Nic Durston, Chief Executive of South Bank Employers’ Group and South Bank Business Improvement District (BID) said: “We are delighted by this announcement. The South Bank is the cultural heart of London and Time Out Market’s celebration of food, drink, shopping and culture is a perfect fit. Not only will Time Out Market and the wider Waterloo.London LCR development bring more reasons for visitors to keep returning to South Bank, it will provide even greater choice for the people who live, work and study here, while providing new and exciting career opportunities to work in this special place.”
Adrian Lee, development director at LCR, said: “Time Out has always had its finger on the pulse of London and we’re utterly thrilled to have them on board for Waterloo.London. Time Out Market will make a major contribution to our vision for a progressive mixed-use social, shopping and cultural space on the South Bank.”
Didier Souillat, CEO of Time Out Market, added: “Time Out Market will be a fantastic addition to London’s South Bank – this is a much-loved neighbourhood with fantastic restaurants, bars, museums and theatres.”