Bakery secures 2028 Borough Market lease extension

A popular bakery has secured an extension allowing it to continue running its baking school at Borough Market until at least March 2028, but its founder says the business will eventually have to leave the site.

Bread Ahead owner Matthew Jones said the agreement had eased uncertainty over the future of the business, which started at the market in Southwark, south London, in 2013.

Jones told the BBC the past few weeks had been "pretty stressful" because of the uncertainty surrounding the tenancy.

Shane Holland, chairman of the Borough Market Trust, said the extension had first been discussed in July and had remained on the table throughout recent negotiations.

"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 business would look for alternative premises in the local area during the extension.

A Borough Market spokesperson described the leasing arrangements as "complex", with different terms applicable to certain areas of Bread Ahead's operations.

The stalls within the market that sell Bread Ahead's products are subject to separate pitch licenses.

Jones said he did not think he and the market would ever completely agree over 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 was told the lease was ending because the business was "too successful" with international expansion.

He said Bread Ahead still considered itself 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 continue to work constructively with Bread Ahead throughout the remainder of its lease.

Bread Ahead started 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 close to the place where the business began despite current disagreements.

"We don't want to be negative about it," he said. "We've loved Borough."

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