Property News
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NewsAll Bar One invests £2.3m to refurbish transport hub sites
The Mitchells & Butlers owned bar brand is overhauling sites in Birmingham and Edinburgh with design-led upgrades tailored to cater for the high-footfall locations
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NewsGravity right-sizes debt obligations through CVA
The leisure and fitness activity park operator has secured approval from creditors for a company voluntary arrangement (CVA) proposal having been impacted by rising costs and soft consumer spending
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NewsLeadenhall Market looking to become leading dining destination
The City of London Corporation is looking to position the 14th century market as a seven-day a week destination in order to drive footfall and sales, with F&B a key part of the tenant mix.
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NewsWingstop continues to accelerate expansion with triple opening
The fast-growing fried chicken chain begun the final full week before Christmas with simultaneous openings in Leicester, Nottingham and Glasgow
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NewsWhitbread CEO: ‘All our industry is asking for is fair treatment’
Writing in The Times, Dominic Paul says increasing costs and taxes will affect where businesses like Whitbread put their money
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NewsLeon to appoint administrators and exit loss-making sites
After acquiring the healthy fast food brand last month, co-founder John Vincent said his immediate priority is to reduce the number of loss-making restaurants, with 20 out of its 70-strong estate believed to be at risk
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NewsBrighton Pier Group looks to offload mini-golf business
The Luke Johnson-chaired leisure business is looking to divest the seven-strong Paradise Island Adventure Golf business, as part of a strategic review of its assets
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NewsShaftesbury Capital reports ‘continued momentum’ across portfolio
The West End landlord says its estates are ‘busy and vibrant’ with high occupancy, footfall and sales volumes
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NewsUpham achieves like-for-like growth of 7.5%
The south of England pub operator says all but one of its sites was in positive sales growth in its latest financial results, which saw revenue rise to £19.8m
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NewsSector anger as business rates reform ‘not delivered in full’
The government’s decision to give hospitality only a quarter of the rates discount it originally proposed has been derided with warnings it’s not enough to offset the loss of reliefs
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NewsThe Coconut Tree acquired for about £305,000 in pre-pack sale
The Sri Lankan restaurant group was acquired last week by a connected company led by two of its founders having fallen into administration after previously defaulting on its CVA payments
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NewsDes Gunewardena unveils plans for triple opening at Olympia
The renowned restaurateur will launch a 300-cover restaurant led by an all-female team alongside a speakeasy bar and events space at the landmark £1.3bn London redevelopment next spring
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NewsYolk’s London estate reduced as CVA approved - updated
The food to go brand has closed three sites across London having undergone a company voluntary arrangement (CVA), which founder Nick Philpot called a ’tough but necessary reset’
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NewsThwaites toasts ‘strong performance’ in half-year results
The family brewer and regional pub operator says it has delivered ‘an excellent set of results given the circumstances’ with turnover and profit both up
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NewsFuller’s sees ‘continuing momentum’ as revenue rises
The pub company says it has ‘outperformed the market’ in its half-year results with like for like sales growth of 4.6%, and a 28% increase in adjusted profit before tax
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NewsBrighton Pier up for sale as revenue drops
Brighton Pier Group said it is ’actively exploring opportunities for the potential sale of some or all of its remaining assets’ as a result of the the impact of last year’s budget
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NewsGovernment urged to rethink inheritance tax reforms
Oak Taverns and Milsom Hotels & Restaurants are among the family-owned businesses calling on the government to change course amid fears the reforms could leave many operators forced to sell
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NewsNoble Inns to launch French bistro concept
The London-based gastropub group will open Bistro Sablé on the site that it previously operated as The Smokehouse in Islington
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NewsInn Collection aiming to grow to 40 sites by 2030
The North-East based group is also looking to create more than 700 jobs as part of the five-year growth plan, which comes after it secured £125m in funding from HSBC
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NewsGordon Ramsay Restaurants grapples with challenges in casual dining as losses widen
The world-famous chef’s restaurant empire saw pre-tax losses rise from £3.4m to £12.6m in its latest financial results despite reporting record revenues and the group’s highest ever EBITDA