Media and hospitality group Time Out plans to open a food market on Piccadilly Circus, similar to the huge gastro-pubs it operates in other cities around the world.
The company is in talks with landlord The Crown Estate to open the food market at 10 Piccadilly, which was once the Swan & Edgar department store. It was also formerly home to retail flagships such as Tower Records and then Virgin Records, the Standard newspaper reported.
The plan emerged 18 months after Time Out abandoned earlier ambitions to open a London food hall. It had originally hoped to open one in Waterloo, but that was scuppered by the pandemic. A subsequent possible scheme in Spitalfields, east London, was undermined by a planning row with Tower Hamlets Council.
Time Out said: “Time Out confirms that the company is in negotiations in relation to a potential London market as part of a pipeline of further global locations in the ordinary course of business.
“The company has not entered into any legally binding arrangements in relation to any London market and there can therefore be no certainty that the current negotiations will result in a subsequent opening.”
Time Out also said it is raising £8m through a share “to support growth via up-front cash investments in new market leases in London and New York, and to accelerate investment in IT.”
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