London, 2017-Apr-05 — /EPR Retail News/ — British Land announces today (04 APR 2017) that Pergola, the company behind Pergola on the Roof at White City, is to create a new al fresco dining experience at Paddington Central, the mixed-use campus adjacent to Paddington station.
Pergola has signed a two year lease for a new 850-capacity venue, set over two floors on the site of 5 Kingdom Street. It will host four residencies, the first of which will launch in May and play host to five of London’s popular restaurants and bars, including Mamalan, DF/Mexico, Decatur, Patty & Bun and Raw Press. Each operator will offer a bespoke menu.
The venue will have a unique, contemporary design and will be weather-proofed for all conditions. Paddington’s industrial heritage will be reflected in the design of the space, with planting and hanging foliage introduced throughout to create an ‘urban paradise’ in the centre of London.
Tim Haddon, Asset Manager at British Land said: “We are always looking for new and exciting ways to enliven our spaces and introduce forward thinking and unique occupiers. Pergola will attract thousands of new visitors to Paddington Central, adding to the vibrancy of the campus.”
Alice Keown, F&B Asset Manager at British Land said: “We are excited to welcome Pergola, one of London’s most exciting food and beverage concepts, to Paddington Central, which will offer the perfect setting for those looking to enjoy their summer evenings outdoors in a unique location.”
Pergola on the Roof launched in May 2016 at the former BBC Television Centre in White City. The experience proved popular with Londoners, attracting 130,000 visitors during its initial three month opening.
Paddington Central is fully-let and home to leading international businesses including Microsoft, Vodafone, Shire, VISA and Prudential. Currently 8,000 people work and live at the campus.
British Land acquired part of the Paddington Central office campus for £470 million in 2013, and completed the purchase of One Sheldon Square for £210 million in 2015. Since then, the company has invested an additional £100 million to begin the transformation of the public realm and begin the construction of 4 Kingdom Street.
Notes to Editors
About British Land
We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.
Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.
Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop, eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.
Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and ‘campus-lite’ clusters of high quality buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.
Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.
Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value through energy generation and efficiency, materials innovation and flood risk reduction and we develop skills and opportunities to help local people and businesses grow.
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 benefits achievements over the last five years.
Further details can be found on the British Land website at www.britishland.com.
Giles Barrie/Andrew Scorgie
0203 727 1000
Source: British Land