04/02/2020
Peach property deal secures next growth phase
Peach has announced the sale of four freehold pubs in a property deal that secures further investment in its 19-strong portfolio and paves the way for the next stage of its growth. Freeholds of The Rose & Crown in Warwick, The One Elm in Stratford, The Swan in Salford and The Richard Onslow in Cranleigh have been sold in a Ground Rent sale and leaseback deal handled by Graeme Bunn of Fleurets.
McDonald's to open 60 units
McDonald's is investing £1bn in its UK and Ireland estate, opening a further 60 restaurants this year. Big Hospitality reports that the chain announced strong full-year results, with global sales rising by 5.9% in 2019. McDonald's has approximately 1,300 restaurants in the UK and 36,000 worldwide.
Planning permission approved for Hammerson hotel in Leeds
Hammerson's plans for a new 205-bedroom hotel adjacent to Leeds' Victoria Gate shopping centre has been approved by Leeds City Council. The Caterer reports that Hammerson are in discussions with an international brand to operate the hotel.
Mambow restaurant to open in Shoreditch
Chef Abby Lee is set to open her debut restaurant in Shoreditch, reports Big Hospitality. Mambow will open on Commercial Street this month.
Safestay reports positive financial figures
For 2019, the group reported an 11% increase in adjusted EBITDA to £3.8m, 25% growth in total revenues to £18.3m, a 77.3% occupancy rate as well as like-for-likes revenues increase of 7%. Furthermore, The Caterer reports that in this period the group added eight hostels to its portfolio and is "well placed to grow substantially" this year.
And Finally...
Pho, the Vietnamese street food restaurant group, backed by Gresham House Ventures, plans to open a unit in Nottingham. Propel reports that the new restaurant will be in the former National Videogame arcade in Carlton Street, in the Hockley area. Furthermore, the company will shortly open a Sheffield restaurant, in the mixed-use Leopold Square development, which marks its 30th site.