London landlord launches innovative leasing approach
LabTech, owner of Camden Market, and Colliers International have created an innovative new approach to leasing the retail and F&B element of Hawley Wharf, the 580,000 sq ft mixed-use destination that is due to open in Camden this autumn.
The programme, which will formally launch at an open house event in Hawley Wharf on April 9, is designed to make it as easy and attractive as possible for entrepreneurs, independents and artisans, including those new to bricks and mortar, to take space in the development.
Key to the programme are creating flexibility and reducing risk for start-ups and fledgling businesses. LabTech and Colliers will be offering turnover rents, shorter-terms, and providing a baseline kitchen fit-out for F&B brands. According to analysis by LabTech and Colliers, the approach could significantly reduce start-up costs for operators.
Tomer Bercoviz, LabTech’s Commercial Director responsible for Hawley Wharf, said: “We recognise it is important to break down barriers for entrepreneurs, independents and artisans. That means sharing the risks, increasing the ease with which such businesses can take space, and supporting them as they grow. In addition, our strategy enables us to support international brands looking to break into the UK market for the first time, providing them with a platform in the heart of Camden that will give them the opportunity to grow globally.”
Reflecting that many of the potential brands will be owner-operated businesses, the Hawley Wharf leasing team is also adopting an unconventional approach to sourcing and securing occupiers. The open house event on April 9 is aimed at potential operators, and has been promoted extensively via social media, adverts in Time Out and online. The team has also visited London’s leading markets and food destinations, talking to independent businesses about the possibility of expanding into Hawley Wharf. Interested brands are then invited to pitch their ideas to the Colliers team directly via social media and the Hawley Wharf website.
Bobby Blake, Director at Colliers International, commented: “Hawley Wharf is a different type of destination, not just for Camden, but London as a whole. Offering a mix of spaces, from large and small units, kiosks and converted railway arches, it will be a place where brands can thrive in a collective community. Delivering the vision, however, means taking a different approach to both how the leasing is done and the nature of the relationship between the landlord and occupier.”
Josh Leon, Head of Central London Restaurants at Colliers International, added: “Our pioneering leasing concept at Camden is based on what we are seeing in food halls, which are gaining momentum in London. In Hawley Wharf, however, we are leasing each space individually rather than outsourcing the whole operation. We are sharing the risk to attract the best operators we can so we can deliver a phenomenal F&B offer for visitors.”
Hawley Wharf Camden is a 580,000 sq ft mixed-scheme destination that will deliver a unique Camden-style ecosystem for visitors and workers to enjoy. The canal-side mixed-use development will provide 150 shops, over 60 places to eat, 195 apartments and 50,000 sq ft of co-working space.
Colliers International represents Hawley Wharf Camden.
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LabTech is creating urban communities that provide coworking, living, commerce and leisure across the globe. This is a process enabled by technology, powered by people and underpinned by a property portfolio of over £3 billion.
The company owns and operates a global property portfolio, concentrated in urban centres such as London, Tel Aviv, Lisbon and Madrid. London is at the heart of LabTech’s plans, with an existing portfolio of 2 million sq ft of property across Camden, Holborn, and Kings Cross and Hackney, four of the city's most vibrant areas.
LabTech's unique combination of property and technology creates strong communities and an environment that facilitates leisure and events, encourages collaboration, and engineers productivity. Members of these communities are empowered by LabTech systems ranging from business management suites to personalised social event platforms.
LabTech owns and operates the world famous Camden Market. The company will open Hawley Wharf Camden, a five-acre Canalside retail and dining destination, and Buck Street, a container park concept, in 2019.
About Colliers International
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $25 billion of assets under management from the world’s most respected institutional real estate investors.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.
Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.