Time Out confirms plan for first UK market

Time Out Group has confirmed that its first UK market will be located at 55 Regent Street in London, part of the Crown Estate’s 10 Piccadilly development.

The company first announced intentions to open at the site in 2024 and raised £8.4m through a share placing to launch both the London venue and a second New York premises.

While talks about the opening continued throughout 2025, the group has now finalised a seven-figure investment to open the market in the first half of 2028.

The site will span more than 26,400 sq ft across three floors and house around 15 restaurants, bars and food businesses, featuring a mix of “established favourites and emerging talent”.

The Grade II-listed building, which will be refurbished by the Crown Estate, was originally home to the Swan & Edgar department store and later Tower Records in the 1980s. The scheme will deliver 62,700 sq ft of office space and 1,700 sq ft of retail space alongside the market.

Chris Ohlund, chief executive of Time Out Group, said: “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. 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.

“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.”

Sarah McLaren, hospitality and leisure director at the Crown Estate, added: “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. With Regent Street’s international profile and diverse food and beverage offer, this is a natural fit that will further strengthen its appeal as a world-class destination where people come to discover, experience and enjoy the very best of London.”

Time Out has had its eye on launching a London food hall for several years. Plans for a 500-seat market in London Waterloo were scrapped after the pandemic hit in 2020 and a rumoured site in the city’s Spitalfields area never got off the ground.

The group opened its first food market in Lisbon, Portugal, in 2014, which welcomes millions of visitors every year.

It has since expanded to markets in Bahrain, Barcelona, Boston, Budapest, Cape Town, Chicago, Dubai, Montreal, New York, Osaka, Porto and Vancouver.

Other openings are planned for Abu Dhabi, Prague and Riyadh.