Roger Wade (owner of Boxpark Wembley) paints himself as a saviour for small businesses within London.
What he doesn't share is what he's had to do to gain his wealth.
He cons small business owners into signing lengthy leases and then fitting out units only so they can become bust within months of opening.
His latest branch Boxpark Wembley has already seen two small businesses go bankrupt since December 2018 and many are to follow.
If you speak with all tenants at that branch the echos of desperation of tenants wanting out is sad. The extortionate rent (£5520 monthly) utilities (£1000+) with additional £100,000.00 fit out cost and deposit plus a few months rent is sure to put any street food vendor out of business. to add business rates for these small contains are £24,000 annually. To sell the pitch Rogers managements does not tell you this. They just sell you the dream of profiting. This desperation is the same at the Croydon branch. Mr Wade's focal point is his bar sales! He does not care if all his vendors shut down his bar makes an average of £45,000 on one event day. He tickets events and promote drugs and alcoholism using DJ's that prompt visitors to drink.
Tenants have complained to Brent council only to send back these complaints to Boxpark. Tenants are then penalised!
Boxpark Wembley has 6 empty units they cannot fill due to potential tenants speaking to current tenants about their experience and dropping out.
This company will be the demise of small businesses in an economy that so desperately needs us right now.
Many of the tenants would like to speak up if they were given the right platform to do so.
They have invested a lot to be able to have their first (in many occasions) permanent site for it to now be their last permanent site.
I would like to delve further however I don't want to risk businesses being penalised.
I am hoping tenants speak up about their individual experiences.
This needs to stop!