Lendlease satisfies appetite for new restaurants at IQL
- Signorelli and Figo launch second outlets at IQL, whilst Tonkotsu reports success following opening -
International Quarter London (IQL), the £2.4 billion joint venture development between Lendlease and LCR, has boosted its retail offering by signing two independent food and drink operators to Stratford’s newest mixed-use neighbourhood. Signorelli and Figo will take 1,146 sq. ft. and 3,024 sq. ft. spaces respectively, joining recently opened Tonkotsu and Pret a Manger.
The news reinforces the joint venture partners’ commitment to bringing local London talent to the developing E20 region. The aim is to combine popular East London operators with best-in-class national brands, providing a wide variety of choice for tenants, residents and visitors. East London bakery, Signorelli, and Italian restaurant, Figo (an expansion from Bella Vita in Hackney’s Broadway Market) will open their second outlets, whilst Tonkotsu’s Stratford outpost is the popular ramen eatery’s seventh in the capital.
Guy Thomas, Head of Retail at Lendlease, commented: “As IQL continues to grow, we are constantly shaping its retail offer to meet the needs of our residents, commercial tenants and the wider local community. The addition of popular local operators such as Signorelli and Figo offering artisanal produce, alongside national brands, showcase Lendlease’s long-term commitment to creating diverse destinations that establish a sense of community and place.”
David Joy, Chief Executive of LCR, said:
“The arrival of Figo and Signorelli will provide an exciting boost for IQL’s food and beverage offer. Those who live, work and shop in Stratford will be able to sample the diverse and flavoursome food offering, which is reflective of East London’s quirky character.”
Alberto Rosmini, Head Baker and Owner of Signorelli, said: “We joined the Stratford adventure three years ago and our business has since gone from strength to strength with support from the landlords Lendlease and LCR. We are keen to continue our growth within this fast developing area, and are privileged to bring our 'made-in-E20' artisan products to tenants such as TfL, FCA and Unicef.”
Tony Manconi, Founder of Figo, added: “IQL provides a unique and lively local landscape in the heart of East London, making it the perfect location for us to launch our new concept where we can successfully grow our customer base and reach. As landlords, Lendlease and LCR have supported our journey, and we’re pleased to announce we’ll be part of this new and inclusive dining and leisure space.”
The new additions are scheduled to open over the coming months and will be located in or around Endeavour Square; the lively new public space at the heart of IQL. Endeavour Square sits at the gateway to Queen Elizabeth Olympic Park and is also where IQL’s new pavilion will be sited. This will house two restaurants, a café, the Queen Elizabeth Olympic Park visitors’ centre, and an accessible roof terrace within its striking multi-story design.
The announcement of the new tenants is just the latest sign of gathering momentum at IQL. Transport for London have just passed their one year anniversary at IQL and with the Financial Conduct Authority and Unicef UK also having moved in this summer, there are now around 6,300 employees based at IQL. Next year, Cancer Research UK will re-locate its HQ, closely followed by the British Council in early 2020, bringing thousands more workers, which will further boost footfall for retailers, in addition to the 2.6 million people that visit the neighbouring London Stadium each year.
Nash Bond and CF Commercial represented IQL, RSR properties acted on behalf of Signorelli, and Figo represented themselves.
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NOTES TO EDITORS
· Lendlease is a leading international property and infrastructure group with operations in Australia, Asia, Europe and the Americas.
· Our vision is to create the best places; places that inspire and enrich the lives of people around the world.
· Headquartered in Sydney, Australia, and listed on the Australian Securities Exchange, Lendlease has approximately 13,100 employees internationally.
· Our core capabilities are reflected in our operating segments of Development, Construction and Investments. The combination of these three segments provides us with a sustainable competitive advantage and allows us to provide innovative integrated solutions for our customers.
· Lendlease is behind some of London’s largest and most exciting mixed-use regeneration projects such as Elephant & Castle and The International Quarter.
· Lendlease was recognised as the UK’s Most Sustainable Residential Developer by the NextGeneration Sustainability Benchmark for setting new standards of sustainability and customer engagement for two consecutive years in 2016 and 2017, scoring more than double the industry average.
About International Quarter London:
· International Quarter London is a £2.4 billion joint venture development between Lendlease and LCR. Located at the heart of Europe’s largest urban regeneration in Stratford, the project will deliver four million sq. ft. of Grade ‘A’ office space, new homes and community facilities within a 22-acre (c.9 hectare) site.
· With the vision to create London’s new home for progressive businesses, International Quarter London benefits from an abundance of green space and fresh air, access to some of the world’s most forward-thinking cultural institutions, unrivalled transport connectivity and a workplace design that has employee wellbeing at its heart.
· Progress is well underway onsite with the first two residential, and a further two commercial buildings now complete. More than one million sq. ft. of office space is already pre-let. Investments from DWS (formerly Deutsche Bank Asset Management) and Legal & General totalled more than £615m of forward sales for the first two commercial buildings. TfL took handover of one in September 2017 and the other the Financial Conduct Authority and Unicef relocated to in summer 2018.
· A third building, accommodating more than 3,200 employees is also underway on the south site, with space there pre-let to Cancer Research UK and British Council. This was also forward sold to DWS for c.£240m.
· LCR is wholly owned by the DfT and specialises in the management, development and disposal of property. LCR was responsible for the delivery of the High Speed 1 railway comprising St. Pancras International, Stratford International and Ebbsfleet.
· Today, having divested of HS1, LCR’s primary focus is in the area of property development and land regeneration. In London, LCR is a joint venture partner in the £2.4bn strategic development at International Quarter London in Stratford; in 2016 the organisation also sold its 36.5% share in the major regeneration programme at King’s Cross, for which it was a steward for almost two decades.
· LCR is involved in a number of high profile development projects. These include the regeneration of the 24-acre Mayfield site in Manchester, along with Manchester City Council, Transport for Greater Manchester and specialist regeneration and property developer U+I; the redevelopment of the Axis site in Birmingham delivering 1,000,000 sq. ft. of commercial buildings and a new public square; and a substantial refurbishment of one of Derby’s principal engineering employment centres, the RTC Business Park, which offers 430,000 sq. ft. of office and commercial accommodation