A £100 million designer shopping outlet in Hackney has faced a significant downturn, with all but one of its shops closing as business dwindled.
Touted as London’s inaugural luxury shopping destination, Hackney Walk received £1.5 million in funding from City Hall during Boris Johnson’s tenure as mayor in 2011, aiming to rival renowned locations like Oxfordshire’s Bicester Village.
Inaugurated in 2017 with 14 upscale shops, including renowned brands like Nike Factory and bespoke men’s tailor Gieves and Hawkes, the outlet has struggled. Lab C-Estate Ltd, the leaseholder for the units, is now in liquidation, while The Arch Company, the owner, claims to be endeavoring to ‘regain control.’
The outlet’s ambitions have faltered, leaving only one store standing—Present, offering designer outerwear from brands like C.P. Company, Stone Island, and Woolrich. [Update: Closed as of 5th Feb 24]
The challenges faced by Hackney Walk extend beyond its commercial struggles. Locals cite its peripheral location and limited foot traffic as hindrances to its success.
The closure of numerous shops, exacerbated by the impact of Covid-19, reflects a broader trend. Shay, an employee at Present, highlights the downturn, expressing hope for a revitalisation of the space for community benefit.
Despite initial hopes for job creation and economic stimulation, the reality falls short. Nick Perry of the Hackney Society Planning Group underscores the missed opportunities, emphasising the outlet’s potential for the borough.
Concerns about the site’s neglect echo throughout the community. Residents express disillusionment with its accessibility and affordability, advocating for alternative uses, particularly for the benefit of children and teenagers.
Hackney Council shares these concerns and underscores the importance of revitalising the area for community well-being. With government funding secured for rejuvenation efforts, there’s hope for a brighter future, contingent on collaboration between stakeholders like The Arch Company and local authorities.
