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London retail provider’s record growth to continue

2 MIN READSeptember 16, 2019
Following record revenues and growing footfall across London-based Boxpark sites, the food and retail park developer has decided to appoint KPMG Corporate Finance to review investment proposals. This appointment will help to expand the business nationally and internationally, coinciding with their plan to secure ten new sites by 2024.

Boxpark, developer of the ‘world’s first pop up mall’, launched in 2010 in Shoreditch and sought to fuse the concepts of modern street food and pop up retail. Since then it has opened two more sites in Croydon and Wembley; maintaining a 54% revenue growth over the last 2 years.

This growth in light of the continued decline of the rest of the high street has proved to be attractive for retail investors. Due to large inward investment, their providing of a unique product and further exciting opportunities in the pipeline, Boxpark has projected sales of £15 million by 2020. 

The most recent development, Boxpark Wembley, is a joint venture between Boxpark and residential landowner Quintain and is the largest site to-date boasting 20,000 square feet of dedicated events space. This continues their history of being central in the place-making of Shoreditch and Croydon, and helps to occupy houses and create jobs in the more rural areas of London as well as adding value to surrounding residential. 

The disruptive nature of Boxpark’s unique design may not only attract investment, but set an example for other retailers looking to make a splash in the UK market. 

If you wish to debate with leading decision makers within placemaking, retail, residential among other asset classes in the UK, British & Irish GRI 2020 takes place in London on 13-14 May. 

Article by Matt Harris

 
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