Having been paying its dues for almost 110 years; the vibrant, historic, and much-loved Shepherd’s Bush Market is due to be given some well-deserved TLC. The owners of the west London stalwart, Yoo Capital, have won planning permission to give the market a major makeover, and will be injecting a whopping £5 million into the revamp.
The developers (who are also the team behind the transformation of Olympia) were given the go-ahead by Hammersmith and Fulham Council’s planning committee back in December. Alongside the market makeover, they will be building 40 new affordable homes and a brand new commercial building, complete with a co-working space and a lab space for Imperial College.
Redevelopment of the area has been a topic of discussion for many years now, but plans have previously fallen through due to opposition from both market traders and local residents. These new renovation plans have proved equally controversial and have been met with some pretty unhappy community members.
Many Shepherd’s Bush Market traders are concerned that Yoo Capital’s plans could lead to rent increases – which would subsequently force sellers out of the market and have a hugely negative impact on the market’s diversity and character. Over 30 market traders have written to the council to express these concerns.
After the council vote on December 20, Protect Shepherd’s Bush Market (a local community group) shared a statement on X (formerly Twitter), saying: “Tonight’s vote to waive through the gentrification of Shepherd’s Bush Market is a shameful decision to side with corporate greed.”
Yoo Capital have pledged to freeze rent prices for long-term traders at 2015 prices until at least 2031. They’ve also confirmed that they will be providing financial support to these traders where relevant.
Lloyd Lee, Managing Partner at Yoo Capital, said: “We are very pleased that plans for Shepherd’s Bush Market have been approved. This begins an important new chapter for the traders and market stallholders who have served the community, residents, tourists and visitors for generations. The approved vision combines the efforts of local stakeholders, the community and Yoo Capital, to create a long-term and successful future for all.”
Find out more about the renovation plans here.
📍 Shepherd’s Bush Market, Uxbridge Road, W12 8DF.