South African retail property developer The Big Box Co, which focuses on social innovation and regeneration, has instructed Savills to look for its first sites in the UK.
Its concept is a new take on the conventional shopping centre model, with modular small format stores run by entrepreneurs who receive funding, education and mentoring through The Big Box Co’s non-profit Lightbox Project.
The first site, launched in Kwa Mashu near Durban in 2016, was created from upcycled shipping containers and is now home to 28 businesses including hair salons, clothing boutiques and cafes, as well as an on-site training centre.
In the UK, The Big Box Co is seeking 60,000 sq ft to 100,000 sq ft freehold or long leasehold opportunities in major cities, including brownfield land and historic buildings with regeneration potential.
The company will also consider joint venture opportunities, and aims to have brand representation in the world’s top 50 innovative cities by 2025.
Murray Clarke, chief executive of The Big Box Co, said: “We want to create a global ecosystem that helps entrepreneurs build sustainable businesses and, in doing so, generate social impact in their local communities.”
Sean Gillies, head of UK retail at Savills, added: “It is clear that people of all ages, and perhaps millennials in particular, are drawn to experiences and a sense of connection. The Big Box Co approach perfectly encapsulates this and we believe they will be immensely popular with UK consumers.”
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