PROPERTY ROUND-UP
Arc Inspirations to open 5 sites in 2023, Gosnells opens bar
Arc Inspirations to open 5 sites
Arc Inspirations, the operator of premium bar brands Banyan, BOX and Manahatta, has revealed plans to open five sites in the next six months, creating 500 new jobs.
These venues will include three new Manahatta cocktail bars in Newcastle, Nottingham and Sheffield and two BOX premium sports bars in Nottingham and Birmingham.
The operator planned to double the size of the business in the next three-to-five years.
Arc Inspirations co-founder and chief executive Martin Wolstencroft said: “While clearly challenges remain, the business is extremely well-positioned with a clear growth plan, an exceptional pipeline of new sites, strong customer brands and two new strategic partnerships, which when combined will enable the business to capitalise on market opportunities over the next five years.”
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Public house on market for £9.75m
The Prince of Wales in Covent Garden, central London, has been brought to market by Savills for £9.75m.
The site is arranged over ground, basement and three upper floors, totally c. 8,112 sq ft. The Drury Lane property is let on a 30-year lease, expiring on 23 June 2034 at a current passing rent of £323,672 per annum to Spirit Pub Company.
Savills licensed leisure team director Paul Green said: “This is an incredibly rare opportunity to acquire a trophy freehold public house in a prime Covent Garden location.
“London continues to be recognised as one of the worlds safe havens for property investors with demand for assets remaining incredibly strong, particularly for buildings which are let to strong covenants on long leases.”
18th century pub hits market
The White Hart in Wytham, Oxfordshire, is on the market with leisure property specialists Fleurets.
Operator Baz Butcher made the decision to sell the site after running it for eight years.
“It has been a pretty tough decision to make but I believe it’s time for me, and also time for a younger pair of hands to look after this iconic 18th century quintessential village pub,” he said.
The classic Cotswold stone public house, which first became a coaching inn in 1720, has retained many of its original features. The property includes a walled courtyard with 87 internal covers, 10 wooden pods and a further 15 tables outside.
6,000 sq ft entertainment space to open in Manchester
A new 6,000 sq ft multi-kitchen restaurant, bar and entertainment concept will open in Manchester this November, championing independent food and drink.
Three award-winning kitchens are set to join the space, which has been brought to life by Grade A Alternative – a family-owned property business. More than 60 jobs will be created as a result of the venue.
The dining experience takes global inspiration and will have space for 200 covers by day and 400 by night. There will also be two bars and a dedicated exhibition space for local artists.
Prestwich favourite and Michelin Guide named Osma will bring a relaxed edge to their famous Scandinavian concept. Caroline Martins of the Sao Paulo Project with a brand-new version of her Brazilian-British fusion cuisine, plus Ramsbottom’s Basque fire cookery restaurant, Baratxuri, will join the line-up.
The site is located within the Grade II listed building of St George’s House on Museum Street, just off Peter Street. The interiors have been stripped back to reveal the original industrial shell.
The building sits on the site of the 1817 Peterloo Massacre, and is the place where the body of Hannah Beswick (the Manchester Mummy) was found.
The site’s operations manager Sam Wheatley commented: “We’ve been working on this project for the past 18 months.
“Previously opening Haunt has afforded us the opportunity to understand where the market is post-Covid, and as you’d expect, the concept has transformed monumentally over time.
“Personally, as I’m not from Manchester, I’ve been able to gain valuable insights into the city and its preferences. This has also meant I’ve been able to meet some great operators, suppliers and perhaps most importantly, some of the best hospitality staff Manchester has to offer.
“This is a hugely exciting and ambitious project. Innovation is evident throughout, in terms of concept, design and of course F&B delivery. We can’t wait to show the space off next month.”
Gosnells opens Mead Bar
Gosnells, London’s only meadery, opened the Gosnells Mead Bar on Bermondsey Mead Mile, south London under a railway arch on 2 October.
The site has capacity for more than 100 drinkers and also has outdoor drinking space under parasols.
Gosnells founder Tom Gosnell commented: “So many people are popping by to see what it’s all about, and we are excited to be able to offer them such a wide range of flavours from 0% to 12% abv.
“The bar will provide a thought-provoking showcase and hopefully encourage guests to sample one of head brewer Will Grubelnik’s iterations of the world’s oldest alcoholic drink, mead. Our meads are based on just honey and water fermented to show the brilliance of the honeybee and its flowers.”
The bar opened in time for the London Marathon on Sunday 2 October.
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