Friday 12 March 2021 – Media Release
Mercato Metropolitano’s New Neighbourhood Concept MMy Wood Wharf Opens This Summer in Canary Wharf’s New District, Wood Wharf
MMy Wood Wharf will occupy two levels of 10 George Street, the first Vertus build-to-rent residence in the vibrant new Canary Wharf district, Wood Wharf.
MMy Wood Wharf will include 600 sqm of space and follow the same approach to artisanal, natural and sustainable food for which Mercato Metropolitano is known for in their community markets in Elephant & Castle and Mayfair.
Artisanal kitchens, a discerning deli/grocery store, an extensive selection of fresh and healthy world products, organic and biodynamic wines from small vineyards; local and European cheeses, and a bakery, will be included in the new Wood Wharf market space.
On the lower level MMy Wood Wharf plans to include a Mercato Metropolitano’s live, jazz music venue.
The MMy Wood Wharf concept is a distillation of the larger markets operated by Mercato Metropolitano aimed at local neighbourhoods.
MMy is reminiscent of the time when Andrea Rasca, Mercato Metropolitano’s founder and CEO, spent in Japan, where limited space and local community needs led to neighbourhood dependency on convenience corner stores. The format has been further developed in London by Rasca and the same team behind the success of the other MM markets based on the understanding that each local community needs a centre of aggregation around food, social values and shared experience, where the elements of inclusiveness, sustainability and healthy lifestyle remain at the core of the offer.
To achieve this, MMy Wood Wharf will include a programme of activities that will educate and engage local residents and the wider community with an aim to communicate important values, such as food accessibility, nutritional excellence, compatibility with local culture, a sense of community and conviviality.
Martin Jones, Retail Leasing Executive, Canary Wharf Group said; “Mercato Metropolitano’s business model fits our vision for Wood Wharf in bringing creative, educational and highly entrepreneurial businesses to Canary Wharf that have the ability to continuously adapt and widen our appeal.
We wish Mercato every success and are excited to partner with a team who have a such a strong track record in creating unique, fun and compelling destinations that value sustainability.
We expect to make some exciting new Wood Wharf letting announcements soon, across many different sectors including music, fitness and education.”
In addition to the Wood Wharf site, MM is driving a £35m expansion plan to open sustainable community markets in Southwark and Ilford in 2021, followed by other projects in Europe, the US, and Japan, which are expected to create 2,000 new jobs. The MM expansion is heavily focused on social impact and on the creation of a global movement of artisans and the health-conscious, where accessibility to adequate food is an important catalyst for community building, as well as being a sacrosanct human right. Additionally, the economic model is predicated on aggregating local traders and creating an alignment of interest with both the traders and the landlords hosting the markets.
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Notes to Editors:
About Mercato Metropolitano:
Mercato Metropolitano is an operator of sustainable and inclusive community markets, focused on revitalizing neighbourhoods, improving life quality and protecting the environment.
The first MM’s London community market has incubated more than 70 food and beverage businesses, a delicatessen with sustainably sourced products from local farmers and artisans, a unique cinema experience, a communal kitchen and several circular economy concepts including a Bavarian micro-brewery, a hydroponics farm, a mushroom farm using spent coffee grounds and a vertical garden in a double decker bus to name a few.
MM started with a 150,000 sq ft pop-up market in Milan where it saw approximately 2.5 million visitors during the 2015 Expo, while their first London market launched in 2016 and attracts up to 60,000 people a week to a part of the city that previously had little or no footfall. In October 2019, Mercato Mayfair opened within the newly restored, Grade I listed, St Mark’s in North Mayfair and turned the building into an inclusive retail and dining destination for the community, with a considerable space dedicated exclusively to educational and social activities for local and neighbouring residents. MM aims to teach urban community residents that they can live a healthier lifestyle, connect with and support rural communities, while at the same time protecting the environment by selecting what they eat and how they eat it.
About Canary Wharf Group:
Canary Wharf Group (CWG) is the developer of the largest urban regeneration project in Europe. CWG develops, manages and currently owns interests in approximately 7.5 million square feet of office space, 0.9 million square feet of retail and over 500 Build to Rent apartments.
CWG is the largest sustainable developer in the UK with over 10 million square feet of sustainable certified buildings. CWG also excels operationally having purchased 100% electricity from renewable sources since 2012 and zero waste to landfill since 2009.
CWG has created a 24/7 city where people can live/work/play on the Canary Wharf estate and enjoy all the benefits: great transport links, access to green spaces and waterside living; and a wide range of amenities including an award-winning arts and events programme.
Canary Wharf’s retail offering comprises over 300 shops, including grocery stores, pharmacies, health clubs, bars and restaurants, all within 15 minutes’ walk.
The Company’s current £2.4bn construction activity is composed of 500k square feet of commercial properties and over 1,750 new homes for sale and rent.