CBRE Global Investors, advised by retail property consultants, GCW, has completed the letting of the former ticket hall and entrance to the London Underground station at Fulham Broadway, South West London to Market Halls.
Market Halls has signed a lease to take the whole building over two levels, comprising approximately 10,000 sq ft. It will be opening in spring 2018 as a food hall with approximately 10 different kitchen concepts along with a bar and seating for 180 people.
GCW and CBRE Global Investors worked together in unlocking the value and potential of the listed site, which previously had a long lease in place.
Caitriona Hunter, Director at CBRE Global Investors, said: “Since our client acquired this asset we have been looking for an operator that will bring back to life this historical building. Through astute asset management we have been able to negotiate a surrender with the existing tenant and re-let this building to Market Halls who we believe are the right operator for the building and will bring a diverse food mix and creative design to this historical building.”
Chris Hovington, Director at GCW, added; ‘We are extremely excited by the prospect of Market Halls opening later this year in this building, which whilst listed, has many historical elements including the old ticket halls which led to the underground station. Market Halls is a perfect fit for the building and they are also opening other sites around London and we are thrilled to have Fulham Broadway opening in what will be its first site in the UK’.
Market Halls will be opening two more London sites this year: Terminus Place in Victoria and a flagship venue on Oxford Street in part of the former BHS building.
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About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $98.3 billion in assets under management* as of September 30, 2017. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.