Boxpark launches new concept alongside a new CEO
Matt Snell grew up above a pub and has done “every single job there is to do in hospitality”. For the last seven years, he’s been running Italian chain Gusto, directing it through a set of unquestionably tough years for the hospitality sector.
Now, he’s running London’s Boxpark – and spearheading the roll-out of its newest concept, Boxhall (crucially, shipping containers not included).
He stresses that Boxpark is “not broken” and that Boxhall is an evolution, not a fresh slate.
“Boxpark isn’t necessarily defined by the fact that it’s in containers… it’s very much an events-based business.”
The company has spent about £5m restoring a Victorian heritage site across the road from Liverpool Street station, including hiring Macaulay Sinclair (of Hawksmoor fame) to design the interior.
Set to house about 13 vendors ranging from “city stalwarts” to “new and upcoming” offerings in old shops – alongside two bar areas and a line of tables running down the middle – Boxhall will be closest in heart to Chelsea Market in New York, Snell says.
“[Boxhall will have] fewer events… [it’ll be] much more about quality food, fantastic cocktails, wine and beer set in heritage buildings rather than containers or big open spaces like Croydon and Wembley,” he says.
There will also – planning willing – be a roof terrace, adding to the City’s long-standing tradition of offering the best views in the capital.
The diverging hospitality market
The new move is seemingly an attempt to appeal to more of an increasingly split hospitality market, which has seen both premium and quick-service hospitality venues thrive post-pandemic, leaving a squeezed middle.
The middle ground has been disappearing for both consumers and venues for years, with customer’s wallets’ and companies’ margins increasingly only supporting cheap-and-cheerful or splash-out experiences.
“What we’re now seeing is a drop off in demand… it’s expensive to eat out and drink,” Snell says. People have “gone to extremities” since Covid, he adds. “If you’re in the middle, I think that’s a difficult place to be.”
“What bucks that trend are businesses that are experiential… and that’s absolutely what Boxpark does. If you are doing something really special and really unique and something that other people aren’t doing, then there is absolutely a space for you.”
“[People] still desperately want to go out. I just believe they’re much more discerning around what their [money] buys them. And so you’ve got to be special. You’ve got to be unique. That’s what Boxpark has always built its reputation on, and it’s why we are so excited about Boxhall,” Snell says.
Boxpark, boxhall, and playbox
Founder Roger Wade launched the first Boxpark site in Shoreditch in 2011, and the company has since expanded across London and the UK. It quickly became known for its unique shipping container concept, which drew food vendors, small businesses and customers alike.
Since its opening, Boxpark Shoreditch has attracted over 1.25m visitors each year, hosting over 250 independent brands and generating almost £100m economic value for the area.
Boxpark opened a second site in Croydon in 2016, a third in Wembley in 2018 and a fourth in Camden last year. Its Croyden venue has since become the site for a huge new competitive socialising concept, Playbox (making the triple offering something akin to a box cubed).
“Boxpark are brilliant at bringing people together for different occasions and making seemingly ordinary things seem extraordinary and really special,” Snell says.
The Wembley site hosted an Eastenders watch party in February, which managed to draw over 1,000 Londoners out despite the dismal weather.
But that doesn’t mean the company has been without its problems: Its Shoreditch site was nearly forced to close last summer after being served notice by by landlords Bishopsgate Goodsyard, who planned to turn the area in homes and offices. It managed to extend the lease to September this year.
It also, like all other labour-intensive business in the UK, faces a significant rise in costs this spring.
“[Higher wage taxes were] a political decision by the Labour government… they committed to not increasing personal taxes, and rather than go back on that, they decided to attack and punish businesses,” Snell says.
It amounts to around £600 extra per staff member employed, he says, adding that April will be “very, very painful” for many businesses.
Luckily, he says, Boxpark only employs a few hundred staff, so the increase in employers’ national insurance contributions is “not as painful” as it could be.
Despite the challenges, Snell remains optimistic: “Boxpark will continue to flourish. We are really, really excited to get this open… because I don’t think there’s anything else like this around.”