News
EXCHANGE FLAGS WELCOMES FIRST RESTAURANT OPERATOR
Date:
12 January 2010
- Source: Liverpool CDP
UK Land & Property, in a joint venture with Pochin Developments, has announced Sakura as its first restaurant operator to sign up to Exchange Flags in the heart of Liverpool’s business district.
The Japanese Teppanyaki, noodle and sushi restaurant, which already has a restaurant in Preston, has taken 576 sq m (6,200 sq ft) of leisure accommodation on the ground floor in Walker House on a 15-year lease. The restaurant is undergoing a £0.5million fit out and, when complete, will offer external seating and decking overlooking Exchange Flags square.
Newsagents, Exchange News has also signed up to 46 sq m (500 sq ft) of retail accommodation on a 10-year lease.
On the deals, Ian Sherry, development director at UK Land & Property commented: “We wanted to find an operator that shared our vision and delivered the quality to match the existing offer at the Flags. As Sakura is an independent restaurant, the offer will not only be of a high quality, but also unique to the area. Exchange News will also take advantage of the high footfall at the Flags and compliment existing operators Coffee Republic and Philpotts.”
David McDermott, owner of Sakura added: “Exchange Flags is an impressive backdrop for our restaurant. Our aim is to create a European feel to the Flags by setting up external decking area with windbreakers and state of the art heaters and umbrellas, so diners can sit outside all year round comfortably whatever the weather. Our bar and stage area will be hosting some of the best singers and musicians from around the region and the restaurant we will be bringing in 15 master chefs hand picked from around the world to produce food of the highest standard. With the fit out well on the way were looking forward to launching in January next year.”
Andrea George at retail property specialist, Tushingham Moore concluded: “With the first restaurant letting now secured, we are seeing the creation of a new leisure destination, which will serve the city’s professional market by day, yet be frequented by people from around the region in the evening and at weekends. For the remaining two restaurant units, we are targeting national and independent operators, which will complement the existing offer.”
Exchange Flags is already home to high-profile tenants including Brabners Chaffe Street, Ministry of Defence, Deloittes, Knight Frank, Philpotts and Coffee Republic.
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