Time Out Group signs new lease for new Waterloo food and culture destination

Time Out Group plc, the global media and entertainment business, has signed a conditional lease agreement for a new Time Out Market in London.

Planning has already been granted. Situated in the South Bank neighbourhood, Time Out Market London is set to become a major development in Waterloo.

Time Out Market London will bring food, drinks and cultural experiences, based on the editorial curation Time Out has always been known for.

With the opening expected in 2021, Time Out Market London will occupy 32,500 sq ft over two floors, accommodating around 500 seats.

Julio Bruno, CEO of Time Out Group plc, said: “London was the birthplace of Time Out in 1968 so it is a true milestone to bring Time Out Market to our city and in such a fantastic location.

“For 50 years, we have helped people go out better in the greatest cities around the world and now we are bringing the best of the city to Time Out Market London.

“As Time Out has transformed into a global media and entertainment business one thing hasn’t changed: our high-quality professional content about the best things to do in the city remains at the heart of everything we do.

“This allows us to successfully diversify our iconic brand across digital and physical channels with Time Out Market playing an important role in driving further growth.”

Time Out Market London will anchor a £200m redevelopment of 135,000 sq ft within Waterloo station - led by property and regeneration company LCR - which will bring the former International Eurostar Terminal back into use with a variety of local, independent and national retail and leisure offerings.

With planning permission already in place, the long-term lease agreement for Time Out Market London in Waterloo station is conditional on obtaining licence approval.

The group has many funding options available to it, in order to finance the capital requirements of this newly owned and operated market.

Didier Souillat, CEO of Time Out Market, added: “Time Out Market will be a fantastic addition to London’s South Bank - this is a much-loved neighbourhood with fantastic restaurants, bars, museums and theatres.

“London is home to an outstanding and wonderfully diverse culinary and cultural scene of which Time Out Market will showcase the very best. It is all about the democratisation of fine dining: making it casual, and casual extraordinary.

“Time Out Market will be a place where locals and visitors can really get to know and experience the city.”