Boxpark lines up Birmingham site
The food hall operator - which currently has locations in London’s Shoreditch, Croydon and Wembley and will soon launch in Bristol and Liverpool - has agreed a 15-year lease with landlords The Arch Company for the Floodgate Street Arches site.
Formerly an industrial zone, Digbeth has become a hub for both the creative industries and F&B over the past decade or so.
The proposed plans for the site - which is located under four railway arches - will see it transformed into a ‘stunning’ food hall and events destination featuring a large, covered structure with around 10 kitchen units and four internal bars set across two floors. In addition, there will be just over 10,500 sq. ft. of external space to offer al fresco dining and events.
The group is investing around £5 million into the Digbeth area, and the new opening is expected to create approximately 200 new job opportunities for the local community.
Boxpark says its new venue will champion local Birmingham businesses and talent with ‘fantastic opportunities for both independent and established food operators, as well as artists, creators and performers from the area’.
“We are delighted to announce the new location for our next Boxpark venture. Our team has searched extensively for sites in Birmingham since 2016, having considered multiple locations across the city,” says Boxpark CEO Simon Champion.
“As a dynamic and fast-growing business, we hope BOXPARK will be an exciting addition to Birmingham. The city’s food, drink and leisure scene has become known as one of the best in the country and we can’t wait to add to that with a space that will support and champion local creatives from food to art, music and beyond.”
Boxpark recently claimed a 'strong performance' after revenues increased from £6.8m to £18.9m in the year to April 2022.
While the 178% increase demonstrate the impact of Covid-19 closures on group’s figures for its previous financial year, Boxpark said its latest financial report highlights ‘impressive’ growth versus pre-pandemic levels as revenue rose by nearly a quarter (24%) in comparison to the year ending April 2020, driven by a number of strategic changes made across the business.
The group said its 'flexible operating business model' has enabled it to broadly break even despite being closed for 30 weeks due to Covid-19. The 'strong revenue recovery', partly offset by inflationary cost pressures, resulted in EBITDA rising to £5.1m in the reporting period.
