London's Time Out Group hops across the pond to new development

Time Out Group plc, a global media and entertainment business in London, has announced today (October 2) it has signed a lease agreement for a new development in Boston.

The benefit of the planning for the site already secured, and will be located in the 401 Park building (formerly Landmark Center), a warehouse built in 1929 and today home to a variety of retail stores, a movie theatre and office space.

This marks the second confirmed Time Out property in the US, with a market set to open in Miami in 2018. In 2016, the Lisbon market reported strong YoY revenue growth of 115 per cent and a record 3.1m visitors.

Julio Bruno, CEO of Time Out Group plc, commented: “Opening [this] is a core part of our growth strategy and adding Boston to our portfolio is another great milestone.

“We have found a unique location; this is a vibrant neighbourhood and a very dynamic community that some of the most innovative companies call home.”

The existing Time Out Market in Lisbon is known for bringing the ‘best’ of a city under one roof, including bars, restaurants and cultural experiences.

The Boston location is expected to have a footprint of 21,500 sq ft, including 2,500 sq ft back of house, and 3,700 sq ft of outdoor space, accommodating 532 seats indoors and 120 seats outdoors.

With a focus on supporting local businesses, a close connection with the city is at the heart of the Time Out Market philosophy. Its opening is anticipated during the first half of 2019.

Didier Souillat, CEO of Time Out Market, with a development in Lisbon, added: “We are pleased to have found such a wonderful site in Boston for [this] with a landlord that shares our values.

“The art deco building is woven into the fabric of Fenway; a workspace, cultural hub and playground for professionals, students and tourists alike.

“This is an exciting time to open Time Out in Boston where the food scene has been steadily evolving… We all look forward to showcasing our curated mix of the city’s best restaurateurs in Boston alongside the most talented mixologists and artists.”

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