Shepherds Bush Market
Shepherds Bush Market was purchased from Transport for London by developers who proposed to regenerate it as part of a mixed use scheme. WMC’s role was to provide advice and support during the planning phases, undertake public and trader consultation, and develop a new long term lettings strategy. This work had to be undertaken in an extremely sensitive manner given the on-going CPO public enquiry, judicial review proceedings and local unrest re the perceived ‘gentrification’ of the market.
What we did
1) Engaged with market traders
WMC established an immediate onsite presence providing a one stop shop for traders to raise concerns, discuss their future and commence the process of looking at new stall design and their position within the market. This approach provided clear lines of communication during a period of uncertainty.
2) Advised on design and build
The market’s physical infrastructure had faced years of under investment. Working with the client’s architects, WMC developed mood boards of the required look and feel of the new market followed by a rolling programme of trader, community and shopper focus groups. WMC’s experience in managing markets within mixed use schemes and complex retail environments allowed for key operational matters to be raised from the start. These included: storage provision, underground access for deliveries and the provision of power and electrics to day stalls and event areas. These were not only important operationally, but would feed into the income flows for the new site.
3) Business Planning
During the period through to delivery of the final scheme, the market would be required to continue to operate. The aspiration was to retain the nucleus of good quality traders within the current market and over time increase the quality and range. WMC were asked to produce a 5 year Business Plan to demonstrate how this would be delivered. Key to this was protecting income, managing the market through change, the financial assumptions behind each phase and the growth strategy that had been developed.
Managing the market and retaining income levels through a period of re-development was a key challenge from the start. The major problem was how to maintain business continuity for the traders. WMC prepared a report outlining a number of different options, including the possibility of utilising redundant land to the south to create a new ‘pop up market’ where traders could, as a group, be moved to during the works. This would mean only one move, business continuity for traders and additional space created for future traders to join them as well. WMC proposed cost options, layouts and trading structures for this area and worked with cost consultants, branding agencies and M&E consultants to prepare a Business Plan for the temporary area.