Yoo Capital reveals plans for Shepherd’s Bush Market refurb

Yoo Capital has unveiled proposals for a major revamp at Shepherd’s Bush Market, W12, as well as plans to develop land on the adjacent Old Laundry Yard site. Yoo has been the majority owner of the market since 2020, after it bought a 75.5% stake in the market from U+I. Together with the Old Laundry Yard, the site is slated to host an incubator “ecosystem” supporting existing traders, a “high street academy”, life sciences and co-working spaces, and 40 new affordable homes. The owner said the plans represent a “major investment” in the market but did not disclose further financial details. Yoo said the plans follow two years of conversations with Shepherd’s Bush Market traders “to understand their businesses and concerns, as well as the needs of the market as a whole and its customers”. Traders have been offered financial support during construction, new 10-year leases and business support and training. Proposals include new entrances, a new canopy and road surfaces, as well as new stalls and grants for investment into shops and other units in railway arches. Lloyd Lee, managing partner of Yoo Capital, said: “Shepherd’s Bush Market has a unique vibrancy and culture. As a firm, we believe in celebrating community assets across London.  We made a commitment to Shepherd’s Bush Market’s traders to invest in the market in a way that honours and retains its much-loved sense of community and diversity.” REimagine City has been appointed to manage the market. It aims to set up the “academy” in early 2023. It has already turned a vacant arch into a training venue that showcases prototype market stalls and displays. Chris Smith, market director at REimagine, said: “Traditional retail has struggled post-pandemic and we want to support a new generation of innovative retailers and hospitality businesses to grow organically. “The academy space aims to teach real-world skills and lower the barriers for individuals with creative ideas to try out new concepts. Coupled with the potential for collaboration between businesses in the co-working and life sciences spaces on site, this will make the space special and we are excited to see the type of partnerships it generates.” The life sciences incubator on the Old Laundry Yard site is touted to be the largest of its kind in London and will support start-ups and SMEs in science, technology and engineering. It will be operated by Imperial College London, which has a campus in nearby White City. John Anderson, Imperial College London’s director of financial strategy, said it will be a “deep tech incubator space”, adding: “There is a great demand for purpose-built lab within genuine ecosystems like those now established in the White City Innovation District. This will provide critical infrastructure for start-up and scale-up enterprises emerging from Imperial College London, LBHF and across the capital.” To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews Image © Yoo Capital