LONDON (Alliance News) - Time Out Group PLC said on Thursday it has agreed to open a new market at Waterloo station in London.
Time Out opened its first market in 2014 is Lisbon, and has seven more in the pipeline. In 2019, markets are set to open in Miami, New York, Boston, Chicago, and Montreal, followed by London Waterloo and Prague in 2021.
Time Out is also planning to open a market in Spitalfields, for which planning is being sought. If successful, it will not open before the second half of 2020.
The Waterloo market, Time Out said, will "anchor" a GBP200 million redevelopment of 135,000 square feet within the railway station, bringing the former Eurostar terminal back into use.
Planning is already in place, the company added, and the long-term lease agreement is conditional on obtaining licensing. Time Out "has a range" of funding options available to fund the market, it said.
Didier Souillat, chief executive of the Time Out Market division, said: "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."
Shares were untraded on Thursday, last quoted at a price of 74.00 pence each.
By George Collard; georgecollard@alliancenews.com
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