Mercato Metropolitano, the community food market concept, has confirmed its next site will be in Mayfair, as flagged up by MCA in May.
Mercato Mayfair in St Mark’s on North Audley Street will have c.16,000sq ft. of retail, dining and community space and will launch within the next six months.
Grosvenor recently completed a £5m restoration of the Grade I listed St Mark’s building.
Mercato Metropolitano opened its first London market in a former paper factory in Elephant & Castle in 2016, and recently confirmed to MCA a c21,000sq ft site would open near Redridge Town Hall in September 2019.
Mercato Mayfair will be spread across four floors, with international cuisines counters, a restaurant, a deli, cheese and wine stores, a coffee and gelato bar, patisserie, cocktail bar, a brewery, flower shop, rooftop terrace and outdoor bar.
Craig McWilliam, chief executive, Grosvenor Britain & Ireland, said: “Our investment in St. Mark’s illustrates our wider vision for Mayfair, making it more open, enticing and accessible for more people in the West End. North Mayfair is evolving, becoming more open and our partnership with Mercato Metropolitano is a vote of confidence in that change. We are delighted that, following our restoration of one of London’s most significant heritage buildings, St Mark’s can be enjoyed by the public once again.”
Andrea Rasca, founder of Mercato Metropolitano, said: “A beautifully restored former church in Mayfair…what more could we ask for? When we started negotiations with Grosvenor, we immediately came to the realisation that our vision and outlook for sustainable communities are very much aligned. Mercato Metropolitano is developing a movement through its sustainable, community-driven business model which aims to substitute the food value chain with a food network. It celebrates artisan food as an important catalyst for social cohesion and conviviality. Our first UK site in Elephant & Castle is proof that the social community has embraced our concept of good, natural and sustainable food as the basis of wellbeing and that eating together is an essential component of a vibrant and solid society. We are very excited to bring the Mercato Metropolitano experience to the Mayfair community through a synergy with a progressive real estate partner.”
Colliers International and CBRE acted on behalf of Grosvenor. The terms of the lease are not disclosed.
Paul Souber, Head of Retail Agency at Colliers International, added: “The importance of selecting the right tenant for this incredible and iconic building cannot be underestimated. Mercato Metropolitano is a partner that will enhance the historic nature of this property, breathing new energy into North Mayfair with its amazing retailing and dining offering that the whole community can enjoy.”
The launch of Mercato Mayfair is subject to a successful approval of the planning and license application.