FHP have, on behalf of Private Clients, acquired the freehold of 11/12 Friar Gate, Derby and have attracted Prezzo to open its first restaurant in Derby.
Derby continues to demonstrate that it is in an attractive location for new restaurant operators as it is confirmed that fast on the heels of the opening of Las Iguanas that Prezzo are to open a new restaurant at 11/12 Friar Gate, Derby in a deal brokered by the Retail & Leisure Team of Derby’s leading Agents, FHP.
Refurbishment works of the period and part listed building have been completed alongside the £600,000 fit out undertaken by Prezzo.
Prezzo spokesman Eddie Gershon said:
“We are looking forward to opening our new restaurant on Wednesday December 17 at Friar Gate. Friar Gate is a superb development and we are pleased to be part of it. We are confident that Prezzo will prove popular with people of all ages and play an important part in the success of Friar Gate”.
The building is undergoing a complete external and internal refurbishment and will provide 124 covers, 104 in the restaurant and 20 in the courtyard.
The transaction was brokered by FHP, with FHP introducing Prezzo to Graze and working with Private Clients who simultaneously bought the freehold interest of the property.
Alan Pearson of FHP confirmed:
“We are very pleased to widen the breadth of restaurant offer in Derby – we are currently seeing two clear focused areas of interest within Derby, firstly in the Intu Derby Shopping Centre, strengthening the leisure offer within the scheme and the Friar Gate, Wardwick and Victoria Street areas.
Derby has for long periods been behind peer cities in its leisure offer that it has provided but the demand that we have recently seen which has introduced Las Iguanas who opened earlier this year and we have a further 5 restaurants under offer, which are due to open Spring 2015.
This will see Derby’s offer widening and giving a much greater opportunity for Derby to retain and attract more of the surrounding population within the Derby and create greater vitality and interest in the City Centre on a 7 day / night a week basis.
This deal in particular has pleased us as it was complex as we had to not only seek to buy the freehold interest but negotiate an appropriate business transaction between Graze and Prezzo. I am pleased to say that we managed to bring together the three parties which delivers Prezzo’s new restaurant in the City”.
