Time Out will continue to look for new locations for its Market concept in London and internationally its bid to open in Spitalfields was rejected.
Time Out Markets chief executive Didier Souillat told MCA the group was disappointed with the outcome, which came despite the recommendation from the Tower Hamlets Council’s planning department that the development be given the go-ahead.
Souillat said the group still believe the format, which brings fine-dining level cooking to an informal market environment, would be a positive addition to London.
A spokeswoman for Time Out declined to comment on whether the group could look to appeal the decision.
Souillat said: “We’d like to thank those in the local community who have supported our efforts, as well as our audience for their continued support.
“In addition, we would like the thank the amazing London chefs who backed the opening and would love to see the many tangible benefits of Time Out Market, which has been such a success story in Lisbon, brought to life in London.
“Meanwhile, we’re on track to open Time Out Market in Miami in the first half of 2018 and we’re scoping new locations in great cities around the world, including London.”
Time Out Group, the global multiplatform media and ecommerce business, signed a conditional lease agreement for the market at 106 Commercial Street in London’s Shoreditch, in October last year.
The group’s flagship market in opened in Lisbon in May 2014, with an additional signed lease in Porto.
After the application was unanimously rejected by Tower Hamlets Council, the Spitalfields Society said the decision recognised the area needed an alternative to more bars and restaurants.
A spokesman said: “The Society applauds the Time Out Market concept but feels that it should be applied to an area of London that genuinely needs the regenerative benefits that it offers.
“The concept as applied to Spitalfields merely seeks to exploit an area that has already been very effectively regenerated by others.”