Fulham Shore, the new restaurant venture from ex-Clapham House Group chairman David Page, is to invest c£250,000 in a new venture to operate Page’s Franco Manca pizza concept under franchise.
A first opening under the newly incorporated, wholly owned subsidiary of Fulham Shore called FM98 Limited has entered into a franchise agreement with Franco Manca 2 UK Ltd to operate a Franco Manca restaurant, initially for five years, in London’s Tottenham Court Road.
FM98 has secured a five year lease at 98 Tottenham Court Road for the restaurant and fit out is expected to commence shortly in anticipation of the restaurant opening during November/December 2013, Fulham Shore announced.
Under the deal, FM98 pays a sign-up fee of £15,000 and ongoing franchise fee of 5% of revenue.
Page and Nabil Mankarious, directors of Fulham Shore, are directors of Franco Manca 2 UK. They are directors of, and each own, c15% of its parent company.
Page said: “We are delighted to have made our maiden investment in this exciting and fast growing business. We are very pleased with the location of the franchise, given its proximity to University College Hospital, RADA, the University of London and a large number of offices. This investment fits in with our strategy to focus on the casual dining sector.”
Franco Manca is a Neapolitan Pizzeria, specialising in sourdough pizzas baked in a traditional wood-burning brick oven. There are currently five Franco Manca restaurants in Brixton, Chiswick, Clapham, Balham and Stratford.
Seb Howard at CBRE acted on the Tottenham Court Road deal.
