Never-ending confusion over Brexit and news of CVAs being agreed by restaurant operators has not tainted overseas operators’ view that London is a land of opportunity, says Morris Greenberg, managing director, CDG Leisure.
Having analysed sentiment at the Global Restaurant Investment Forum a few weeks ago and applying it to business back in London, there is one thing we have been seeing – which has been proven over the last six months.
Despite London operators feeling somewhat anxious about Brexit and the CVAs, international operators are still looking at London as a very attractive opportunity.
These factors have actually caused an influx of operators to come and take advantages of the hesitation that UK operators have demonstrated.
And these operators have been from all over the globe. We, at CDG Leisure, have been working with American businesses such as Wingstop, Eggslut, The Halal Guys and Taco Bell, as well as businesses from all over Asia, like Monga and Uncle Tetsu.
They are just a few that have been keen to get a foothold in the London market. There has also been interest from operators across the Middle East and even from Europe. All share the feeling that, while the UK market may currently look dangerous to a domestic operator – this gives them plenty of room to succeed.
One of the reasons they are in a position to do so, without having to consider factors like Brexit-related labour shortages, is because many of their initial teams come from overseas. This is particularly the case with senior management.
The concepts these restaurants are bringing to the table are very much in trend with recent years. Burgers and wings are going strong but using fresh, local or organic ingredients have allowed operators to charge premium prices.
Consumers are also receiving more of an experience than before at restaurants serving traditional fast-food fare. Ambitious fit outs and incentives allow consumers sit to down and enjoy their meal more than at a classic grab and go.
On the other end of the spectrum, however, QSR is still a growing trend. Vegan twists on ‘junk’ food are also popular, aided by ethical mindsets, healthier eating habits and celebrity endorsements are things we can expect to continue well into 2019.
Precis
International operators see still opportunity in London
Never-ending confusion over Brexit and news of CVAs being agreed by restaurant operators has not tainted overseas operators’ view that London is a land of opportunity, says Morris Greenberg, managing director, CDG Leisure.
