FHP SECURE NOTTINGHAM’S FIRST LEBANESE RESTAURANT

Leisure News

Acting on behalf of private clients, Fisher Hargreaves Proctor have let the premises at 6 Chapel Bar to an independent restaurateur who will trade as Fontaine.

Throughout the marketing period we received strong levels of interest in the premises and the landlords were determined to ensure that the eventual tenant would be clearly differentiated from other restaurants within the vicinity in a bid to ensure that their business would be sustainable moving forward.

When the interest emerged from Fontaine it was evident that there were no other Lebanese restaurants within the primary core of Nottingham City Centre and there was a great opportunity to create something a bit different.

The tenants have a taken a new ten year lease at a commencing rent of £40,000 which will rise to £50,000 over the first five years of the term.  A six month rent deposit was paid and the tenant benefitted from a rent free period of four months.

Steve Young of Fisher Hargreaves Proctor commented:-

“In spite of the challenging market conditions, we have found that premises fitted to a high standard continue to attract strong levels of interest due to the fact that incoming operators are not required to spend several hundred thousand pounds in refurbishing the property before they can open for trade.  In turn, it has enabled us to achieve a strong rental deal with limited incentives for a unit of challenging configuration.”

It is anticipated that Fontaine will open during June 2010 serving a wide selection of Mediterranean cuisine from sandwiches and express lunches to full al a carte dining.