January 18, 2016
Salmon Harvester Opportunity Fund (SHOF) has signed All Bar One for a 4,521 sq ft bar and restaurant at Cathedral Square in Worcester. The centre is undergoing a £20 million transformation with plans for completion by Spring 2017.
Mitchell & Butler, trading as All Bar One, have signed a 25 year lease with tenant break at 15 years and are paying £37.50 per sq ft or £169,500 per annum. They are one of eight new restaurants overlooking a new public square in front of the city’s cathedral. Other restaurant tenants include Byron Hamburgers, Ask Restaurants, Cosy Club, Pizza Express and Miller & Carter. The scheme also includes a reconfigured Travelodge hotel, additional retail space and gym.
Nick Webb, Asset Manager at Salmon Harvester Opportunity Fund said, “Operators such as All Bar One are attracted to Worcester by our development plans, financial commitment and local Council support in creating a new square and investing in the road layout in this part of the city. We are attracting some fantastic new brands and creating a brand new leisure quarter for Worcester with the jobs, extra visitors and further benefits this brings.”
Speller Metcalfe commenced work on the scheme in November 2015. Salmon Harvester Opportunity Fund is advised by DMR, Hartnell Taylor Cook and Johnson Fellows.