The London market will occupy 26,400sq ft across three floors at the Grade II-listed 55 Regent Street building, located at the gateway to Regent Street and Piccadilly Circus, and will bring together around 15 restaurants, bars and food businesses, showcasing a mix of both established and emerging operators.
The opening will mark Time Out Market’s first UK location, bringing the concept to the city where the Time Out brand was founded in 1968. Since opening its first market in Lisbon in 2014, the business has expanded to 13 locations across nine countries.
The location for Time Out Market’s London site was revealed back in 2024 when the media and hospitality group opened talks with The Crown Estate. At the time Time Out said it had not entered any legally binding arrangements in relation to a London Market, and there is ‘no certainty’ that the current negotiations will result in a subsequent opening.
The group has been looking to open in the capital for more than a decade and originally submitted plans back in 2016 to open a market near Spitalfields that were later rejected. The group subsequently signed a lease agreement for a 32,500sq ft site in the former International Eurostar Terminal in Waterloo, but the plans were shelves in early 2021 due to the fallout from the Covid-19 pandemic.
The Crown Estate says the deal reinforces Regent Street’s position as a global destination for hospitality, retail and culture, with Time Out making a seven-figure investment in the project.
“Securing this partnership with The Crown Estate to create our global flagship in the heart of Piccadilly Circus is one of the most significant milestones in Time Out’s nearly 60-year history,” says Chris Ohlund, CEO of Time Out Group plc.
“Bringing the globally recognised Time Out Market concept home to London is both a celebration of where we began and a statement of where we are going.
“London is one of the world’s greatest cities for food and culture, and there is no better location than Piccadilly Circus to showcase everything that makes it extraordinary.
“Together with The Crown Estate, we are creating a destination that will celebrate London’s best chefs, restaurateurs, artists and creators while welcoming millions of Londoners and visitors every year.”
“As our global flagship, Time Out Market London will also become the blueprint for the next generation of Time Out Markets, bringing together hospitality, culture, media, sponsorship and live experiences in a way that only Time Out can deliver.”
The announcement follows the unveiling of the latest phase of The Crown Estate’s development programme across Regent Street and St James’s, including the landmark 10 Piccadilly scheme.
Sarah McLaren, hospitality and leisure director at The Crown Estate, adds: “As one of the world’s leading curators of food and cultural concepts, Time Out Market will bring the ‘best of the city’ under one roof welcoming some of the most exciting and emerging hospitality and cultural partners.
“This new global flagship at the gateway to Regent Street will create opportunities for innovative operators to grow and thrive.
“This has always been central to our approach, and Time Out Market provides a fantastic platform to showcase new talent to a global audience.”
The redevelopment of the historic building, formerly home to the Swan & Edgar department store and later Tower Records, will also deliver 62,700sq ft of office space and 1,700sq ft of retail accommodation.