Boxpark appoints JLL to lead roll out strategy for 10 new sites in five years
Boxpark, one of the UK's leading food, drink and leisure developers has revealed that it will open 10 new sites across the UK over the next five years and has appointed JLL to acquire the sites as well as lease them. JLL has also been appointed as joint leasing agent on all existing Boxpark sites.
Boxpark opened the world’s first pop-up mall in Shoreditch in 2011 to create a new and unique shopping and dining format which put local and global street fashion brands side by side. It has since expanded in to Croydon and Wembley and has evolved and expanded to become an all day, retail-and-dining-as-entertainment that offers affordable and flexible leases for leading lifestyle brands, street food retailers, leisure operators, centered around and an event space to capable of hosting 2000 person shows.
To support the expansion plans Boxpark is launching BoxOffice a groundbreaking new format which combines the success of the Boxpark street food and leisure model with the booming co-working market. BoxOffice is an innovative, purpose-built ground floor/first floor F&B development with a modular and scalable office space above the first floor delivering between 50,000 - 100,000 sq.ft office space in addition to a 50,000 sq.ft food and drink destination. Boxpark are also considering sites of 10-20,000 sq.ft for a new BoxHall format.
Roger Wade, CEO of Boxpark said, “Since launching in 2011 Boxpark has gone from strength to strength, constantly evolving our offering to meet consumer and market demands. BoxOffice will be the latest addition to the Boxpark proposition, allowing us to create larger spaces that meet a wider community need, offering enticing co-working spaces alongside a best in class F&B offering. We’re looking forward to continuing the Boxpark journey alongside JLL and rolling out this new concept across the UK.”
Tim Vallance, Head of Investor Services and Retail Chairman at JLL said, “We are excited to be working with a brand that shares our approach to creating authentic, community led space for people to use and engage with. Boxpark has been at the forefront of proving this model and we look forward to working with them to identify new locations that can attract fresh, interesting and different operators to deliver genuine placemaking.”
Boxpark retains Morgan Williams on an investment advisory mandate and CWM on a joint leasing mandate.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.