Yoo Capital submits plans to invest in Shepherd's Bush Market in West London
Yoo Capital has submitted a planning application for the upgrade and redevelopment of Shepherd’s Bush Market and the adjacent Old Laundry Yard site.
Following two years of consultation with Shepherd’s Bush Market traders and the local community, Yoo Capital and architecture practice AHMM have drawn up proposals for an upgraded shopping environment with additional retail space for existing and future traders to grow, new public realm and landscaping, co-working spaces, a life science incubator and affordable homes.
To minimise disruption and support traders Yoo has announced a freeze on all rent increases until 2031 and committed £5.4m in financial support to traders.
Lloyd Lee, managing partner at Yoo Capital, said: “Shepherd’s Bush Market, which is steeped in history and heritage, is an important part of the fabric of the local community, but investment is needed to ensure its continued success.
“Our proposals preserve the area’s rich sense of culture and identity, while revitalising the infrastructure and buildings in a way that can attract more footfall and support local traders to grow their businesses. From day one of development, we will stand side by side with local traders and provide generous support to ensure the market remains the thriving heart of the local community.
“Investment into the market will be made alongside the development of 40 high quality affordable homes, a new life sciences incubator in partnership with Imperial College London, and office and co-working space.”
Representatives of The Shepherd’s Bush Market Tenants Association (SBMTA), added: “Collectively we are pleased that plans for the proposed development of our 100-year-old market have finally been submitted to London Borough Hammersmith & Fulham. After the market was sold by TFL in 2011 the traders in the market experienced some challenging and testing times not least with footfall continuing to deteriorate and we see this proposed development as the way forward for our members.
“Since Yoo Capital became the owners of our market in 2020 they have shown strong support to the traders both financially and practically and continue to work with us on a daily basis. The SBMTA trust this collaboration will continue throughout the development and beyond, resulting in a new, thriving and vibrant market, supporting our members and their businesses for another 100 years.”
John Anderson, chief investment officer at Imperial College London, said: “White City is a hub for innovation, and we are pleased to be working with Yoo Capital on the plans to open a life sciences incubator space as part of the revitalisation of Shepherd’s Bush Market. Demand for purpose-built labs is essential to driving growth within the sector and the new space will support start-ups and SME’s emerging from Imperial College London, LBHF and across London.”