// Boxpark CEO confirms it has received offers from private equity firms & property funds
// The food and retail operator appointed KPMG last month to review investment proposals
// Boxpark first launched in London’s Shoreditch in 2011
Boxpark founder and chief executive Roger Wade has revealed he has already received a number of offers for the business after appointing advisers last month.
The food and retail operator drafted in KPMG to help review investment proposals and expand the business nationwide and internationally.
Wade said Boxpark had received offers for majority and minority stakes from private equity firms and property funds, Property Week reported.
Since opening Boxpark Shoreditch in 2011, the shipping container concept has continued to buck current retail trends.
Despite the challenges plaguing the industry, Boxpark has managed to increase revenues year-on-year, with 54 per cent revenue growth between 2018 and 2019.
KPMG’s appointment follows the appointment of property consultancy firm JLL to secure 10 new sites for Boxpark over the next five years – expected to cost more than £100 million.
The key areas Boxpark is looking at are in London, Brighton, Cardiff, Birmingham, Manchester, Liverpool, Leeds, Edinburgh and Glasgow.
The business’s roll-out plan includes the opening of two new concepts, BoxOffice and BoxHall.
Wade said Boxpark was under offer on two sites – both outside London – and hoped to sign within the next six to 12 weeks.
The BoxOffices would cost £10 million to £15 million each.
Wade said that he was also considering acquiring freehold sites.