Time Out, which has been seemingly transforming from a listings magazine into an international food hall operator has cancelled plans for a huge site in Waterloo Station. Time Out currently runs food halls in Lisbon, Miami, New York, Boston, Montréal and Chicago, and is/was planning more in Dubai, Porto and Prague.
The food hall had been expected to have around 17 food venues, three bars, and 500 seats across 32,500 square feet over two floors of the new Waterloo station shopping centre.
The decision to open a food hall in Waterloo station followed on from its attempt to open one in Spitalfields, which was blocked by local objections.
Concept image (c) London & Continental Railways
When it was announced, the developer of the former Eurostar terminal spaces, London & Continental Railways said that Time Out Market would be its main tenant for the £200 million redevelopment. Time Out would have occupied around 20 per cent of the total site, and it still shows up on their website as opening in 2022.
Citing the impact of the lockdown, in a short statement, Time Out Group confirmed that it has informed London & Continental Railways that it no longer intends to proceed with the development of Time Out Market London (Waterloo).
Time Out Group is due to publish plans for an equity funding proposal to secure its long term future at the end of this month.
There are plenty of other companies who operate these style of food markets where different food stalls share things like tables and general staff to clear up etc so hopefully another one will be found.
I used the one they have in Brooklyn and it was a god concept. I was on my own but I saw a group of friends who got their food from different stalls but could still sit together and eat and talk etc
Despite all the talk of working from home Waterloo Station will still return to being one of the busiest stations and these shops and restaurants will open !
I reckon once lockdown restrictions are lifted we could well see a boom in travel given all the people who have still not seen grandchildren born during the last year and other additions to families and of course to pay respects to those they lost but were unable to attend funerals.
People have spent so much time at home that finally getting out and about will bring freedoms seemingly lost during the last year .
Now this is a shame. The one in Lisbon is fantastic and very different to your standard food markets. Ugh I hate covid.
I imagine that mega travel food provider SSP (already incumbent at Waterloo) will fill the gap (at less rent)