Time Out has said that if it secures planning consent for its target London site, there will not be an opening before H2 2020.
The prospect of bringing its Markets concept to London, a long-held ambition for the group, was given only a cursory mention in this morning’s H1 trading update.
The group is awaiting the outcome of a planning inquiry into plans to develop a market in Spitalfields. The global publisher has been waging a long-running battle with Tower Hamlets Council and the Sptalfields Society over its plans to open a market with 17 kitchens in a site on Commercial Street. The inquiry ended in May and a decision should be imminent.
It global markets division saw total tenant turnover grow 22% year-on-year for the six months to 30 June to £15.6m, with visitor numbers up 12% to 1.9 million
The group also updated on its global pipeline:
- · Miami - Expected to open in Q1 2019, with construction well advanced and the chef line up complete
- · New York - Expected to open in Q1 2019. The original site has been extended, with additional riverside access space secured, and strong progress is being made with the chef line up
- · Boston - Expected to open in Q2 2019
- · Chicago - Construction is currently underway, and the site is expected to open in Q4 2019
- · Montreal - Time Out Market’s first management agreement, with the market due to open in Q4 2019