Pop-up retail start-up Appear Here has averaged 100 deals every 20 days and is securing 50-100% returns for property clients including British Land, Land Securities, Capco and Soho Estates.
The two-year-old start-up said in an interview with EG this week that the secret to its success is, in part, down to the speed at which is can close the deals using an online platform that links up landlords sitting on empty units with retailers looking for pop-up space. It allows the company to close deals in an average of 48 hours compared to the industry average of three to six months.
Appear Here is growing at a rate of 500% year-on-year and now more than 10,000 retailers including superbrands Marc Jacobs, Coca Cola, Net-a-Porter, Google, Bentley, Adidas and Jamie Oliver and more than 750 property developers signed up to the site.
The company has also made a number of high-profile hires including former Blackstone managing director Peter Lennon who joined as head of global landlord partnerships in March.
Appear Here’s 23-year-old founder Ross Bailey said: “Up until now the major issue had been getting landlords online. Now they are seeing the value. Depending on the location and the brand taking the space, landlords have been getting 50-100% returns on otherwise empty spaces through our site and they are able to keep them occupied for 80-90% of the year.
“We made sure we have the best locations – from Burlington Arcade to Boxpark and from Dover Street to South Molton Street. These are some of the best retail sites in the world and they are attracting the types of tenants that developers might not be able to get otherwise.”
