LONDON, 2018-Mar-06 — /EPR Retail News/ — British Land and Eataly, the Italian marketplace, announce that Eataly is to open its first UK location at Broadgate’s 135 Bishopsgate in 2020. Eataly has signed an agreement for lease for 42,000 sq ft on the ground and first floors of the building.
Eataly’s original idea is very simple: to gather all the high-quality Italian foods under one roof, where you can eat, shop and learn. With a selection of the best Italian products, restaurants, bars, quick services, exciting on-site production laboratories, and a cooking school, Eataly will add to the already popular restaurant and bar offering at Broadgate, bringing many opportunities to learn about Italian food and culture though courses, guided tastings, demonstrations and special events.
The letting marks yet another positive step in Broadgate’s evolution into a mixed-use neighbourhood for London, and sets the tone for the world class retail destination that British Land is delivering at the campus.
135 Bishopsgate’s refurbishment is part of British Land’s wider focus on enhancing the environment for Broadgate’s workers and visitors and attracting businesses from a range of sectors to the campus. The upgraded building will deliver high quality office space for occupiers, who will benefit from a roof terrace with views over London, as well as an in-house catering offer and a café, both provided by Eataly. British Land is making significant improvements to the public realm on Bishopsgate, one of London’s busiest streets.
Eataly’s marketplace will be accessible from both Bishopsgate and Broadgate’s Exchange Square which is due to be transformed into a new park for the campus. These additional entrances will significantly improve the campus’ permeability and its connections with the lively surrounding areas of Spitalfields and Shoreditch.
Claire Barber, Head of Central London Retail and Meadowhall, British Land said: “Eataly’s decision to take space at Broadgate is a fantastic endorsement of British Land’s strategy to create a vibrant, world class neighbourhood at the campus.
“Along with arrival of the Elizabeth Line at 100 Liverpool Street this year, and the high quality retail space due to open at 100 Liverpool Street in 2019, Eataly will really put Broadgate on the map as an exciting destination for Londoners to enjoy seven days a week.”
Luca Baffigo, CEO, Eataly said: “Visiting Borough Market before opening our first Eataly in Italy was a source of great inspiration for our concept. This is why opening a place in London where people can buy, eat and learn is a very important and exciting milestone for us. Being able to bring our model into a place that is so significant for us fills us with satisfaction and stimulates us to create in London a wonderful multifunctional experience.”
This letting is the most recent in a series of commitments from a range of occupiers at Broadgate, including cyber security and data management company Mimecast, which is taking 79,000 sq ft at 1FA (currently undergoing a major refurbishment), and Japanese bank SMBCE which is taking 161,000 sq ft at 100 Liverpool Street.
For further details on Broadgate, visit www.broadgate.co.uk.
About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £18.1 billion (British Land share: £13.5 billion) as at 30 September 2017 making us one of Europe’s largest listed real estate investment companies.
Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.
Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 49% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.
Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being awarded a five star rating in the 2017 Global Real Estate Sustainability Benchmark for the second year running.
In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.
Further details can be found on the British Land website at www.britishland.com.
Eataly, which in the last year generates sales of roughly EUR 400 million, has 40 shops in 12 countries, offering to more than 30 million of visitors the best cottage-industry products at sustainable prices, limiting the distribution chain to the utmost and creating direct contact between the producer and the final distributor, skipping the intermediate stages in the chain. The main goal is to increase the percentage of those who eat with awareness, choosing high-quality Italian products and paying special attention to the source and processing of raw materials.
The philosophy adopted by Eataly is twofold: on the one hand, it offers products, both for sale and used as ingredients in catering; on the other hand, it offers education, including cooking classes, tastings, encounters with great chefs, important wine or beer producers or craftsmen, free education for children and senior citizens. The latter aspect summarises the true originality of Eataly and represents the starting-point in leading consumers to perceive quality, which can encourage the sense of taste and enjoyment that makes a human being more satisfied and happier. More on www.eataly.com
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Source: British Land