IM Properties is feeling bullish about its new restaurant signing at 55 Colmore Row, having attracted renowned London operator, Gaucho, to one of two available units.
Bringing a taste of Argentina to the city, Gaucho currently has 12 restaurants in London plus a restaurant in Leeds, and one in Manchester, and has selected Birmingham as its next UK destination for regional expansion.
Birmingham was chosen for its growth potential and rising profile as a food haven.
Zeev Godik from Gaucho explains:
“We’ve been looking at Birmingham for some time but finding the right location was crucial. It had to look and feel right for the brand. All our restaurants are individual and we needed a space that enabled us to tell the story of Gaucho to the full and create a memorable experience for customers in the city.”
Some 15,000 sq ft of restaurant space is being developed on 55 Colmore Row’s lower ground floor as part of a £30 million redevelopment. When complete the building will provide the largest and most prominent level of high quality Grade A office accommodation in the city. Pinsent Masons has already signed up to 40,000 of the available 160,000 sq ft.
Gaucho will sit on the corner of Church Street and Colmore Row, with a dedicated entrance on Church Street opposite the proposed new entrance of the Grand Hotel.
John Hammond, investment director at IM Properties said: “For us 55 Colmore Row is a real place changer and everything about the building has to be aspirational. Our ambition was to attract a top tier restaurant and when Gaucho approached us, we knew they ticked all our boxes for style, quality and vibrancy, paying the same attention to designing their restaurants as we have to creating one of the most prestigious business addresses in the area.
“Recent lettings at the Grand Hotel to Gusto and Alchemist are part of a push forward to make the CBD a high quality business and leisure location. We believe Gaucho significantly adds to the offering and will provide a real talking point in the city, becoming a place to go and be seen.”
Specialist retail and leisure agents, BWD have been appointed by IM Properties to find suitable operators to take the restaurant space. They are currently in discussions with a number of interested parties for the second unit.
Once completed in autumn of this year, 55 Colmore Row will unveil its Grade II listed Victorian terraced facade, beautifully restored to reveal a 19th century masterpiece, offering panoramic views across the grounds of the adjacent St Philip’s Cathedral and the wider city core.
Insight Retail Consulting are retained advisors to the Gaucho group assisting in their expansion activities.