Bakery secures 2028 Borough Market lease extension
No agreement has been made on Bread Ahead's long-term presence within Borough Market.
Bakery secures 2028 Borough Market lease extension
Bread Ahead founder Matthew Jones says he will look for nearby sites to move to
A well-known bakery has won an extension that will let it keep operating its baking school at Borough Market until at least March 2028, though its founder says the business will ultimately need to leave the site.
Bread Ahead owner Matthew Jones said the deal had reduced uncertainty about the company’s future. The business began at the market in Southwark, south London, in 2013.
Jones told the BBC that the last few weeks had been "pretty stressful" because of the uncertainty over the tenancy.
Shane Holland, chairman of the Borough Market Trust, said the extension had originally been discussed in July and had stayed on the table during recent talks.
"Now it's really good to have just some clear space, so we know we can... just get on with our business, really," added Jones.
He said the company would seek alternative premises in the local area during the extension period.
A Borough Market spokesperson said the leasing arrangements were "complex", with different terms applying to certain parts of Bread Ahead’s operations.
The stalls in the market that sell Bread Ahead’s products are covered by separate pitch licenses.
Jones said he did not think he and the market would ever fully agree on the decision, but added: "At the end of the day, it's their estate.
"We're not going to be at Borough forever."
In September, Jones told BBC London he had been told the lease was ending because the business was "too successful" with international expansion.
He said Bread Ahead still saw itself as a small business despite its growth, because it remained family-run and self-funded.
Holland said: "Our position on Bread Ahead's lease expiry is unchanged, and it is important to clarify that the extension agreed does not secure a long-term future for the business at the market.
"No agreement has been reached for the period beyond March 2028."
The trust said it would keep working constructively with Bread Ahead for the rest of its lease.
Borough Market has been in its current location since 1756
Bread Ahead began as a small stall selling sourdough, brownies and biscuits before its doughnuts helped turn it into an international business.
It now has 12 franchised stores across Saudi Arabia and the United Arab Emirates, and is due to open a bakery in New York City next month.
"It's a huge step for us as a company, so we're really excited about that," Jones said.
He said he had spent 13 years at Borough Market and would always feel connected to the place where the business started, despite the current disagreements.
"We don't want to be negative about it," he said. "We've loved Borough."