Latest news with #YooCapital
BBC News
08-08-2025
- Business
- BBC News
Shepherd's Bush Market could be made into a community asset
A bid to list Shepherd's Bush Market as an asset of community value has been submitted by campaigners concerned about its future. Friends of Shepherd's Bush Market filed the application to "protect" the site a year after redevelopment plans were approved, said the Local Democracy Reporting Service (LDRS).The group believes owner Yoo Capital wants to sell the west London site once work is complete and that an asset of community value (ACV) status would be a step towards community ownership and would safeguard the market's Yoo Capital said the site was not for sale and the scheme offered the market and traders "the best chance of future success". Yoo Capital's plans for the market, which runs between Goldhawk Road and Uxbridge Road, include new stalls, 40 council homes on adjoining Old Laundry Yard, and a nine-storey commercial and Fulham Council's planning committee approved the proposal in December raised concerns over support being promised to traders, leases they would be offered and increasing summer City Hall announced it would not call in the application and it was granted conditional final approval in August. 'Heart of our community' Group spokesman Jake Simms dubbed the market the "heart of our community".He said: "Yoo Capital's plans would destroy the market's social value - displacing traders, pricing out locals, and eroding the market's diversity - all for the sake of lining their investors pockets."The market needs investment, but this must be led by the community."If Hammersmith and Fulham Council grant the ACV, the community would be given priority for five years if the site is put up for sale. Shepherd's Bush Market Tenants' Association said its members were "fully supportive of the development by Yoo Capital".It said Friends of Shepherd's Bush Market was trying frustrate the process of moving forward. The market, it added, would cost millions of pounds to buy."Where would the Friends get that money?" a spokesperson Capital's managing director Andrew Thorpe said: "Our plans offer the market and its traders the best chance of future success and we look forward to starting works early next year."
Yahoo
28-07-2025
- Business
- Yahoo
Wall Street Piles Into London Mega Deal: Deutsche Bank Bets $1.7B on Olympia Revival
In a rare moment of optimism for UK commercial property, Deutsche Bank (NYSE:DB) is moving ahead with a 1.25 billion ($1.7 billion) refinancing of London's Olympia redevelopmenta deal that could end up being one of the largest real estate loans ever seen in Britain. The five-year loan, arranged by JPMorgan and Evercore, will replace the 875 million facility issued by a Goldman Sachs fund back in 2020. The project, steered by Deutsche Finance International and Yoo Capital, is approaching the final stretch of a 2.1 billion transformation, bringing 1.5 million square feet of hotels, exhibition space, and restaurants to West London. Warning! GuruFocus has detected 4 Warning Sign with DB. According to people familiar with the deal, more than 15 lenders competed to provide financingranging from investment banks to debt fundssuggesting a shift in sentiment that's worth paying attention to. While the loan hasn't officially closed, sources say it's priced above 500 basis points and expected to be finalized before the project's completion this fall. That level of demand for a single asset deal may hint at early signs of recovery in London's bruised commercial property sector, even as caution still dominates broader capital markets. The Olympia site was originally acquired in 2017 for 296 million. Seven years and billions of pounds later, it's being recast as a cultural anchor for West London. For Deutsche Bank, this could be a well-timed betbacking the asset through to stabilization and possibly unlocking new long-term upside. The market may still be jittery, but this deal shows that, in the right pockets, capital is not just returningit's getting competitive. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
28-07-2025
- Business
- Bloomberg
Deutsche Bank to Provide £1.25 Billion Loan for London's Olympia
Deutsche Bank AG. has been selected to refinance one of the biggest real estate projects in the UK, the redevelopment of London's Olympia exhibition center. The lender will provide £1.25 billion ($1.7 billion) to the venture that has redeveloped the venue, one of the largest real estate financings ever agreed in the UK, a person with knowledge of the process said. The loan will refinance and recapitalizes the business behind the project that's owned by Deutsche Finance International and Yoo Capital, the people said, asking not to be identified as the deal has not yet been signed. JPMorgan Chase & Co. and Evercore arranged the loan, they said.
Scottish Sun
15-06-2025
- Business
- Scottish Sun
Our iconic market ‘will be GONE in months' thanks to huge shopping centre & new flats plan – it's a ghost town
DEATH KNELL Our iconic market 'will be GONE in months' thanks to huge shopping centre & new flats plan – it's a ghost town Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) AN ICONIC market could be gone in months as redevelopment plans go ahead amid crippling competition from a major shopping centre. Shepherd's Bush Market, in West London, dates back 111 years but its future is uncertain as developers plan to build 40 flats as part of a nine-storey complex, and new shops. Sign up for Scottish Sun newsletter Sign up 10 Many traders worry they could be priced out, pushed aside, or left behind Credit: Paul Edwards 10 Others are worried the character of the market won't survive the changes Credit: Paul Edwards 10 Sue French, 60, who has worked at Ellis's Pet Store for 43 years, blames the decline on competition Credit: Paul Edwards Hammersmith and Fulham Council approved Yoo Capital's £5million proposal to regenerate the area in late 2023, leading to gentrification fears among traders. The housing development will be located on the Old Laundry Site land opposite the market and includes the demolition of an apparent former homeless hostel. The council will manage the homes, with the scheme to include the revamp of sections of the market space itself, leaving many traders worried they'll be ushered out. However, many say the death knell was already sounded back in 2008, when the gargantuan Westfield shopping centre first opened. The modern mall covers 2,600,000 sq ft and cost £1.6 billion, featuring high street giants like John Lewis, Marks & Spencer, Next and Primark - meaning footfall at the market has been declining for years. And that's to mention the rise of online shopping, with people preferring to shop at Amazon - which is also causing devastating problems for more established outlets, and was accelerated during the Covid pandemic. 'Growth and potential' For stallholders like Bobby Singhy, 45, whose family has been part of the market for over five decades, the place holds deep personal value. 'The market is wonderful, great characters, always here to help one another,' he told The Sun this week. 'There's a lot of growth and potential in this area. My stall has been here for 55 years—my grandad, then my dad, then me.' Others are worried the character of the market won't survive the changes. Wrecking machines move in to demolish 'ghost town' Scots estate dubbed 'Britain's Chernobyl' Sue French, 60, who has worked at Ellis's Pet Store for 43 years, blames the decline on competition. 'The market has changed a lot over the years," she said. "This used to be busy but when they made Westfield that killed us." 'At the moment, Yoo Capital are trying to fix it.' Traders say footfall has plummeted in recent years. 'I've seen lots and lots of people just walk past the market,' said Sue. 'The bus doesn't even stop near the market. People can't afford to rent stalls here… they're here for a few months and leave. "This is the only original part of Shepherd's Market that is left.' This used to be busy but when they made Westfield that killed us. Sue French Joanna Lee, 58, a lifelong local, fears that too much is being lost to development and that the market's unique character is under threat. 'They can't build over this — you can't take away this market… I believe we're witnessing the death of the market,' she said. 'I've grown up on this market and I don't want it to change because that's how it starts. "This used to be the place to go. There were lots and lots of shops all selling different things, and now the stalls are one by one packing up and closing." 'Now it doesn't matter' One jewellery stall worker, who has been at the market for 40 years, but asked not to be named, fears promises won't be kept. 'The market is very quiet – in the old days, weekends were packed - but now it doesn't matter,' she said. 'Yoo Capital said they won't gentrify and will regenerate it instead… I'm not worried as long as it's not gentrified.' 10 Market trader Bobby Singhy, 45, operates a stall previously occupied by his grandad and dad Credit: Paul Edwards 10 Abdul Idris, 60, believe the area needs a change Credit: Paul Edwards 10 Tony Lucky, 67, said online shopping and parking price rises are killing the market Credit: Paul Edwards The developers' deal struck with the council will see new homes and shops at one end, and investment in the rest of the market space. But not everyone is convinced it will be a good thing. 'There's a danger of Shepherd's Bush Market becoming gentrified like Brixton Market. There's been a lot of changes over the years,' said the unnamed local. 'This market is so multicultural and has a lot of life. "We have a wave of Asians, Afghans, Arabs and any changes may put people off from entering. "And that includes any major changes Yoo Capital makes." Online has defeated us and people going straight to Amazon and ordering from China. There's no parking and that's been the most challenging thing – it's acting like a deterrent to a lot of customers. Tony Lucky Tony Lucky, 67, owner of ZamZam Luggage, blames high parking charges and online competition. 'Online has defeated us and people going straight to Amazon and ordering from China,' he said. 'There's no parking and that's been the most challenging thing – it's acting like a deterrent to a lot of customers. Every hour it costs £5 or you get a parking fine of £80. 'Yoo Capital want to build more flats and don't care about the market,' he said. 'This market has been here 100 years and no problem – but now they want to break all this and rebuild the flats.' 'We need a change, but the right one' Abdul Idris, 60, has worked at his home goods stall since childhood. 'Tesco and other big stuff have been taking the spotlight away from shops in the market,' he said. 'We need a change of things. Development is happening but I don't know when – we need a change, but the right one.' For many, there's still hope. Laura Sakstein, 67, who runs 'This is Nuts', a family-run store her father opened in 1933, believes the market has life left in it. 'Back in the day it was packed – you couldn't get in the market,' she said. 'It's not just Shepherd's Bush, it's retail everywhere today.' 'Walthamstow used to be a fabulous market but I don't think it is what it was. "It's got potential, this place, but we need new variety,' she said. 'Community spirit is what it's all about. Westfield shouldn't be competition to the market. Retail everywhere is suffering.' According to Yoo Capital, the redevelopment is meant to protect the market's future. Redevelopment plan A 9-storey commercial building will be built on the Old Laundry Site next to the market, with 40 council-managed homes and upgrades to existing stalls. A spokesperson for Yoo Capital stated: 'Our commitment to the Market remains as strong as when we acquired the site in 2020. "Following the granting of full planning permission at the end of 2024, we have been hard at work, formulating the most cohesive plan for construction. "This allows us to not only look forward to the best final result – where traders can enjoy an upgraded market that better supports their needs – but also considers the effect of construction, minimising disruption to trade and ensuring the Market remains open throughout, as it has done for the past 111 years.' Louise Page-Jennings, a spokesperson for Yoo Capital, also shared with The Sun: 'We are carefully curating the Market and will introduce new tenants through the Market Academy during the construction process.' The Academy will offer free training to traders on merchandising, marketing, and business skills. She added, 'The Market will remain open throughout the works, with efforts in place to minimize any disruption.' Ms Page-Jennings said traders will be offered support worth over £5 million, including rent-free options during construction, sabbaticals, or lease buyouts. Those choosing to stay can access compensation of £7,500 to £12,500, plus up to £50,000 in profit-loss support, she added. A minimum of £7,500 financial support for traders that wish to open during construction. And no rent or service charge during Market construction Traders on sabbatical may receive up to £3,000 a month in payments and get brand new units or funds to upgrade existing ones. Rents will be fixed for five years after construction ends — but the market will eventually be opened to private buyers. Critics say that leaves uncertainty about what happens next. Paul Bardini, 69, whose grandfather first worked in the market in 1919, sees the other side. 'The investment could give the market a face-lift and bring in new customers,' he said. As traders wait and watch, hope hangs in the air — alongside fears of losing something irreplaceable. The Sun has contacted Westfield and Hammersmith and Fulham Council for comment. Do you know more? Email 10 Laura Sakstein, 67, is remaining positive and believes the market still has a place in today's world Credit: Paul Edwards 10 The market first opened 111 years ago Credit: Paul Edwards 10 Westfield shopping centre in Shepherds Bush opened in 2008 Credit: The Sun
The Sun
15-06-2025
- Business
- The Sun
Our iconic market ‘will be GONE in months' thanks to huge shopping centre & new flats plan – it's a ghost town
AN ICONIC market could be gone in months as redevelopment plans go ahead amid crippling competition from a major shopping centre. Shepherd's Bush Market, in West London, dates back 111 years but its future is uncertain as developers plan to build 40 flats as part of a nine-storey complex, and new shops. 10 10 10 Hammersmith and Fulham Council approved Yoo Capital's £5million proposal to regenerate the area in late 2023, leading to gentrification fears among traders. The housing development will be located on the Old Laundry Site land opposite the market and includes the demolition of an apparent former homeless hostel. The council will manage the homes, with the scheme to include the revamp of sections of the market space itself, leaving many traders worried they'll be ushered out. However, many say the death knell was already sounded back in 2008, when the gargantuan Westfield shopping centre first opened. The modern mall covers 2,600,000 sq ft and cost £1.6 billion, featuring high street giants like John Lewis, Marks & Spencer, Next and Primark - meaning footfall at the market has been declining for years. And that's to mention the rise of online shopping, with people preferring to shop at Amazon - which is also causing devastating problems for more established outlets, and was accelerated during the Covid pandemic. 'Growth and potential' For stallholders like Bobby Singhy, 45, whose family has been part of the market for over five decades, the place holds deep personal value. 'The market is wonderful, great characters, always here to help one another,' he told The Sun this week. 'There's a lot of growth and potential in this area. My stall has been here for 55 years—my grandad, then my dad, then me.' Others are worried the character of the market won't survive the changes. Wrecking machines move in to demolish 'ghost town' Scots estate dubbed 'Britain's Chernobyl' Sue French, 60, who has worked at Ellis's Pet Store for 43 years, blames the decline on competition. 'The market has changed a lot over the years," she said. "This used to be busy but when they made Westfield that killed us." 'At the moment, Yoo Capital are trying to fix it.' Traders say footfall has plummeted in recent years. 'I've seen lots and lots of people just walk past the market,' said Sue. 'The bus doesn't even stop near the market. People can't afford to rent stalls here… they're here for a few months and leave. "This is the only original part of Shepherd's Market that is left.' This used to be busy but when they made Westfield that killed us. Sue FrenchEllis's Pet Store employee Joanna Lee, 58, a lifelong local, fears that too much is being lost to development and that the market's unique character is under threat. 'They can't build over this — you can't take away this market… I believe we're witnessing the death of the market,' she said. 'I've grown up on this market and I don't want it to change because that's how it starts. "This used to be the place to go. There were lots and lots of shops all selling different things, and now the stalls are one by one packing up and closing." 'Now it doesn't matter' One jewellery stall worker, who has been at the market for 40 years, but asked not to be named, fears promises won't be kept. 'The market is very quiet – in the old days, weekends were packed - but now it doesn't matter,' she said. 'Yoo Capital said they won't gentrify and will regenerate it instead… I'm not worried as long as it's not gentrified.' 10 10 10 The developers' deal struck with the council will see new homes and shops at one end, and investment in the rest of the market space. But not everyone is convinced it will be a good thing. 'There's a danger of Shepherd's Bush Market becoming gentrified like Brixton Market. There's been a lot of changes over the years,' said the unnamed local. 'This market is so multicultural and has a lot of life. "We have a wave of Asians, Afghans, Arabs and any changes may put people off from entering. "And that includes any major changes Yoo Capital makes." Online has defeated us and people going straight to Amazon and ordering from China. There's no parking and that's been the most challenging thing – it's acting like a deterrent to a lot of customers. Tony LuckyZamZam Luggage owner Tony Lucky, 67, owner of ZamZam Luggage, blames high parking charges and online competition. 'Online has defeated us and people going straight to Amazon and ordering from China,' he said. 'There's no parking and that's been the most challenging thing – it's acting like a deterrent to a lot of customers. Every hour it costs £5 or you get a parking fine of £80. 'Yoo Capital want to build more flats and don't care about the market,' he said. 'This market has been here 100 years and no problem – but now they want to break all this and rebuild the flats.' 'We need a change, but the right one' Abdul Idris, 60, has worked at his home goods stall since childhood. 'Tesco and other big stuff have been taking the spotlight away from shops in the market,' he said. 'We need a change of things. Development is happening but I don't know when – we need a change, but the right one.' For many, there's still hope. Laura Sakstein, 67, who runs 'This is Nuts', a family-run store her father opened in 1933, believes the market has life left in it. 'Back in the day it was packed – you couldn't get in the market,' she said. 'It's not just Shepherd's Bush, it's retail everywhere today.' 'Walthamstow used to be a fabulous market but I don't think it is what it was. "It's got potential, this place, but we need new variety,' she said. 'Community spirit is what it's all about. Westfield shouldn't be competition to the market. Retail everywhere is suffering.' According to Yoo Capital, the redevelopment is meant to protect the market's future. Redevelopment plan A 9-storey commercial building will be built on the Old Laundry Site next to the market, with 40 council-managed homes and upgrades to existing stalls. A spokesperson for Yoo Capital stated: 'Our commitment to the Market remains as strong as when we acquired the site in 2020. "Following the granting of full planning permission at the end of 2024, we have been hard at work, formulating the most cohesive plan for construction. "This allows us to not only look forward to the best final result – where traders can enjoy an upgraded market that better supports their needs – but also considers the effect of construction, minimising disruption to trade and ensuring the Market remains open throughout, as it has done for the past 111 years.' Louise Page-Jennings, a spokesperson for Yoo Capital, also shared with The Sun: 'We are carefully curating the Market and will introduce new tenants through the Market Academy during the construction process.' The Academy will offer free training to traders on merchandising, marketing, and business skills. She added, 'The Market will remain open throughout the works, with efforts in place to minimize any disruption.' Ms Page-Jennings said traders will be offered support worth over £5 million, including rent-free options during construction, sabbaticals, or lease buyouts. Those choosing to stay can access compensation of £7,500 to £12,500, plus up to £50,000 in profit-loss support, she added. A minimum of £7,500 financial support for traders that wish to open during construction. And no rent or service charge during Market construction Traders on sabbatical may receive up to £3,000 a month in payments and get brand new units or funds to upgrade existing ones. Rents will be fixed for five years after construction ends — but the market will eventually be opened to private buyers. Critics say that leaves uncertainty about what happens next. Paul Bardini, 69, whose grandfather first worked in the market in 1919, sees the other side. 'The investment could give the market a face-lift and bring in new customers,' he said. As traders wait and watch, hope hangs in the air — alongside fears of losing something irreplaceable. The Sun has contacted Westfield and Hammersmith and Fulham Council for comment. Do you know more? Email 10 10 10 10
