TRIO OF NEW RESTAURANTS ON BROAD STREET IN BIRMINGHAM
Birmingham’s thriving dining scene is to receive a further boost after Colliers International secured lettings for three new restaurants on Broad Street including two at the Five Ways leisure scheme.
The Restaurant Group, which operates Chiquito and Frankie & Benny’s, has secured the leasehold interest for 9 Brindleyplace for its upmarket American restaurant and bar concept Coast to Coast. It has taken the 8,700 sq ft unit on Broad Street for the remaining 21 years on an existing lease at a rent of £190,000 per annum.
The new restaurant is due to open in November. Colliers International acted on behalf of the former tenant, Whitbread, who assigned the lease.
Colliers International also advised UK & European Investments, a property development and investment company, on two new lettings at its Five Ways leisure scheme, anchored by Cineworld Cinemas and housing Grosvenor Casinos, Nando’s and Revolution, the vodka bar.
Tiger Bills, the ‘East meets West’ neighbourhood dining concept launched by Lifestyle Hospitality Group, has let 3,600 sq ft at the former Bud-ha Blue unit on a 12-year lease at a passing rent of £40,000 per annum. The new outlet will be the third Tiger Bills to set up in the UK after launching in Torquay and Exeter. The Birmingham restaurant will be operated by Midlands-based franchisee Craig Lewis.
Colliers International also secured a letting for UK & European Investments at Unit 9 at the Five Ways leisure scheme to new Pan-Asian restaurant concept and lounge bar, Masakki. The operator has taken the 17,000 sq ft, three-storey property, which is adjoined by the new Hampton by Hilton Hotel, on a 15-year lease at an annual passing rent of £70,000. The unit previously traded as Waxy O’Conner’s.
Paul Hands, a director in the licenced and leisure team at Colliers International in Birmingham, said: “Birmingham has a growing reputation as a real culinary destination and these three new restaurants will really enhance the increasing diversity of the city’s restaurant offer.”
John Stacey, UK asset management director of UK & European, said: “We are delighted by the lettings and welcome Tiger Bills and Masakki to Five Ways. The addition of these restaurants further enhances the leisure offering at the scheme and provides visitors with an attractive and enjoyable destination.”