Farmer J secures £5.5m investment to aid expansion in UK and US as it targets becoming ‘global brand’: All-day market concept Farmer J has told Propel is it targeting becoming a “global brand” after raising an extra £5.5m to further expand in London and aid an international launch. The latest funding round was led by Beringea, the venture capital firm that also backs non-alcoholic beer brand Lucky Saint. Farmer J, which has ten sites in London, plans to open a further five to six this year as it looks to accelerate expansion in the capital. The business, which was founded by Jonathan Recanati in 2016, also hopes to take its first steps internationally next year, with a focus on the east coast of America, targeting locations in New York and Boston. The sites in the US will be company owned. Recanati told Propel there are “plenty of places in London in which the concept can go into and thrive” and that all the group’s current sites are profitable. Recanati, who runs the business with his wife, Ali, added: “My ambition is to build a global brand serving people nutritious, honest, tasty food, made from scratch. I genuinely believe that no meal should be wasted, and even if you’re grabbing a quick meal, it should always be an experience. I’m in the business of feeding people ‘fast food’, but my goal is to redefine what that means.” Stuart Veale, managing partner of Beringea, who led the investment and will join Farmer J’s board of directors, said: “Jonathan and the Farmer J team have built a brand that is transforming the dining experience of thousands across London. Consumers that are short on time no longer need to suffer through tired, unhealthy, poorly sourced meals – Farmer J offers a product that is driving immense loyalty and value. We look forward to working alongside the team on the next chapter of its expansion across London and internationally.” In 2019, Recanati raised £2.5m from sector investor Imbiba, and last year, it secured new investment from Edition Capital. Speaking to Propel about further site selection last year, Recanati said: “Generally, we were still looking for seven-days-a-week sites, but our five-days-a-week ones are also doing really well, which gets you thinking because they’re converting well, we should also be looking for those types of sites. We are still aiming for mixed-use types of location where you get workers, a bit of retail, and in some cases, residential. But for the right rent, we can make money from five-days-a-week sites. The last two years have been all about improving efficiency and improving conversion, and now that sales are back up, you can really see all the hard work coming to fruition.” Farmer J was advised on the new investment by Tamweel. 

 

Mowgli founder Nisha Katona to speak at first Propel Multi-Club Conference of 2024, open for bookings: Nisha Katona, founder of Indian street food concept Mowgli, will be among the speakers at the first Propel Multi-Club Conference of 2024. The conference takes place on Thursday, 21 March, at the Millennium Gloucester Hotel in London’s Kensington, and is open for bookings. Katona talks to Propel group editor Mark Wingett about growing into a national brand, the challenge of keeping close to the brand’s growing consumer base, and what comes next for the business both in the UK and internationally. Operators can book up to three free places per company while Premium subscribers who are operators can book up to four free places. To book, email kai.kirkman@propelinfo.com.

 

Premium Club members to receive next New Openings Database on Friday, 2 February: Premium Club members will receive The New Openings Database on Friday, 2 February, at midday. The database will show the details of 95 site openings, including which company has opened a site or its plans to open one in the future. It will have details on what type of site it is and its location, and there will also be a website link to the businesses. The database is published on a monthly basis and Premium Club members will also receive a 4,800-word report on the new additions to the database. Premium members also receive access to five other databases: the Turnover & Profits Blue Book, the New Openings Database, the UK Food and Beverage Franchisor Database, the UK Food and Beverage Franchisee Database and the Who’s Who of UK Food & Beverage. Propel is evolving its Premium subscription offer by launching Premium Club on Thursday, 1 February. All circa 4,000 existing subscribers automatically become members. The launch of Premium Club comes with even more benefits. All subscribers will be offered a 20% discount on tickets to four Propel paid-for events – The Excellence in Pub Retailing Conference (14 May), Social Media for Profit (18 July), the Talent and Training Conference (1 October) and Restaurant Marketer and Innovator (two days in January 2025). Operators will also be able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club members receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club members will be sent a dedicated monthly newsletter that will highlight key updates in the sector and direct subscribers to all the vital content their membership offers. Premium Club members also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel group editor Mark Wingett and a host of industry leaders from across the sector. A Propel Premium subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. Email kai.kirkman@propelinfo.com today to sign up.

NTIA welcomes launch of the UK’s first regular drug checking service: The Night Time Industries Association (NTIA) has welcomed the launch of the UK’s first regular drug checking service, in Bristol. Led by harm reduction charity The Loop, in partnership with Bristol City Council and Bristol Drugs Project, the pioneering service combines personalised health advice with drug testing. Operated by The Loop’s team of chemists and health professionals, it aims to minimise drug-related harm, promote safer consumption and inform stakeholders on harm reduction strategies. NTIA chair Michael Kill called the scheme a critical first step towards establishing a comprehensive harm reduction strategy and said he hopes it will prompt the government to update the Misuse of Drugs Act. “This service will not only reduce the potential harm associated with drug use but also provide valuable insights into local drug markets,” he added. “We encourage the government to use this initiative as a springboard to develop a comprehensive harm reduction strategy and reform the outdated Misuse of Drugs Act.”

 

Sadiq Khan trials scrapping peak fares on Fridays to get Londoners back on the Tube: The Mayor of London, Sadiq Khan, has announced that he has asked TfL to run a three-month trial whereby all London tube and rail fares are made off-peak on Fridays. Khan is to scrap peak fares on the Tube on Fridays for three months from March – hoping savings of up to £2 per trip will boost passenger numbers. He also hopes it will boost business for the capital’s bars and restaurants as workers return to pre-covid patterns and switch away from hybrid working patterns. Tube demand has grown to 85% midweek, and at times exceeds 100% at weekends, but lags on Mondays and especially Fridays, when it averages 73%. Last May, think tank Centre for Cities recommended temporarily scrapping peak morning fares on Fridays. Khan said: “London has really bounced back since the pandemic, but the lack of commuters returning on Fridays is a clear exception – with a major knock-on effect on our shops, cafes and cultural venues. That’s why I’ve asked TfL to trial off-peak fares on Fridays, and I encourage Londoners to get involved.” Kate Nicholls, chief executive of UKHospitality, added: “There’s no doubt that Fridays have suffered as a result of changes to working patterns since the pandemic and hospitality businesses have felt that loss of commuter trade. Responding to these challenges with innovative trials like off-peak Fridays is exactly the type of flexible approach needed to boost journey numbers and stimulate footfall in our venues.”

 

Buns from Home promotes Shereen Ritchie to CEO: Buns from Home, the London-based independent bakery brand, has promoted Shereen Ritchie to chief executive, as the brand reported total revenue growth of 77% in the final quarter of last year, Propel has learned. Ritchie will replace Robbie Miller, who has been the brand’s acting interim chief executive and will now resume his position as chairman. Ritchie joined the brand in May last year as chief operating officer, having spent four years as managing director with natural fast-food brand, Leon, where she oversaw two record-breaking years before covid hit. She then spent a year and a half at Sprout, the Dublin-based organic salad and farm business. Since joining Buns from Home, Ritchie has increased the size of the estate with four new openings and has navigated the brand to total revenue growth of 77% in the fourth quarter of 2023. Total revenue growth for the year ended 31 December 2023 was up 135% on the previous year. Buns from Home is due to shortly open its 13th site in London, in Victoria, and is planning to “amplify the rate of growth” of its estate in the first half of 2024. Miller said: “What Shereen has achieved already, in under a year, is incredible. She’s brimming with confidence and is the leader I was hoping she would be. I share the view of the board that under her stewardship, we can achieve the ambitious growth goals we have set ourselves”. Buns from Home started as a lockdown project for its founder, Barney Goff, and opened its first site in Notting Hill in August 2020. Last year, Ritchie told Propel that Buns from Home has “lots of synergies” with Leon but is “more scalable” as it is a simpler concept.

 

Caring kicks off £1bn Ivy restaurant group sale: Richard Caring has kicked off an auction for his stake in The Ivy and its sister restaurants, with his advisers slapping a £1bn price tag on the business. The Sunday Times reports that HSBC began sharing marketing documents last week with interested parties for the Covent Garden restaurant as well as the Ivy Collection and Ivy Asia sites, according to City sources. Among those expected to be approached is Saudi Arabia's Public Investment Fund (PIF). Caring owns the Ivy group in a 50/50 joint venture with former Qatari prime minister Sheikh Hamad Bin-Jassim Bin-Jaber Al Thani, although Caring is understood to have full operational control and voting rights.  Caring’s upmarket London restaurants Scott’s, Sexy Fish and J Sheekey, plus the Mayfair nightclub Annabel’s, are not included in the sale. Caring declined to comment. The Ivy was founded at a site near Leicester Square in 1917 by Abel Giandolini and Mario Gallati, with the latter going on to open Le Caprice. Caring took over Caprice Holdings in 2005 and has since embarked on expansion of The Ivy brand, taking it to dozens of locations across London and the south of England as well as focusing on expanding The Ivy Asia. In 2019, Caring sold a 25% stake in Caprice Holdings to Hamad bin Jassim bin Jaber Al Thani, the former prime minister of Qatar, in a deal reportedly worth £200m. Latest accounts filed for Troia (UK) Restaurants for the period ending 1 January 2023, which comprises The Ivy Collection, showed record turnover of almost £303m and adjusted Ebitda of £54.8m, which was also a record. Ivy Collection features in the Propel Turnover & Profits Blue Book. Its turnover of £302,927,000 for the year ending 1 January 2023 is the 33rd highest in the database. The Blue Book ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.

 

Urban Greens eyes £10m revenue mark and City openings: London fresh salad concept Urban Greens, which recently opened its fourth site in the capital, is looking to reach the £10m revenue mark by the end of this year, as it looks to open two of its next three sites in the City. Co-founder Houman Ashrafzadeh, who co-founded the business with Yannis Drivas and Rushil Ramjee, told The Times a fifth site in the City would open in the next three months. “On top of that, our ambition is to do one more west London site this year, and another City site. We have offers in place, but nothing confirmed,” he said. Based on their monthly sales across their first three outlets, Urban Green’s annual turnover is between £4.5m and £5m. “Our next milestone is to reach £10m revenue, and I think we will get there, on a [monthly] run rate basis, by the end of this year,” Ashrafzadeh said. “Our first two years were not profitable. In 2023, we were on top of our operations and we turned a healthy profit. Our Ebitda margins are around 15 to 16%. This year, we are expecting to improve those numbers. Now we have scale and we are buying tonnes of greens on a weekly basis the buying power is different, even though there has been inflation.” The concept’s founders have invested £1.5m of their savings to take the business this far, and for the first time, are open to the idea of selling a stake to a suitable partner to help them to expand more quickly, Ashrafzadeh said. “Now is the time that if we do raise significant money, Rushil and I will know exactly how to deploy it,” he said. “We wanted to build a foundation that is solid and strong before we take on external capital. We left well-paid jobs to do this, so the first thing was that we were still learning, everyday working the store itself, improving efficiencies and the business. Raising money at that stage would have meant we diluted way too early.” Ramjee said the office occupation data they were seeing from landlords, as well as word of mouth reports from former City colleagues, had given them the confidence to invest in that part of the capital.

 

Dubai multi-brand operator signs franchising partnership as it looks to expands into UK: Dubai multi-brand operator Yolk Brands has signed a franchising partnership as it looks to expand into the UK and beyond. Propel revealed last year that Yolk Brands – which operates fried chicken concept BonBird, gourmet burger concept Pickl, gourmet deli and cafe brand 1796 and speciality coffee roaster SouthPour – was looking to bring BonBird and Pickl to the UK. It has now signed a global Partnership with franchise consultants Presman & Colard “to expand their portfolio of brands’ global presence”. Charlie Mander, Presman & Colard group chief operating officer, said: “Presman & Colard has signed a global exclusive partnership with Yolk Brands to strategise, advise and develop their portfolio of concepts through partnerships and franchising worldwide. We are thrilled to be appointed to assist Yolk Brands and guide their expansion and growth together.”

Taco Bell to link up with Welcome Break: Mexican restaurant brand Taco Bell is to open its first motorway site in partnership with Welcome Break next month. The first site under the new partnership will open at the South Mimms Services at Junction 23 on the M25, on 19 February. Taco Bell, which operates circa 135 sites in the UK, said: “We are so proud of our incredible teams who have been working extremely hard to design, build and launch the store for the opening. We are excited to give our customers even more food options when they stop off for a Welcome Break with us.” Welcome Break, the Applegreen-owned business, currently operates 59 motorway service areas, four trunk road service areas and 31 hotels in the UK.

City Pub Group reports record Christmas as half its estate achieves highest ever festive weekly sales: City Pub Group, the owner and operator of circa 50 pubs across southern England and Wales, has reported a record Christmas as half of its estate achieved their highest ever festive weekly sales. “We are delighted to announce an excellent performance during the five-week Christmas and New Year trading period,” the business said. “Our dedicated teams went the extra mile, and their unwavering dedication and hard work helped to achieve a series of record-breaking sales.  December was a significant milestone, with 28 of our pubs beating all previous records and achieving the highest weekly sales ever recorded during the Christmas trading period. There was strong like-for-like sales performance, with many venues reporting impressive growth. An additional two venues reached new post-covid heights, demonstrating a robust recovery from the pandemic and a leading market presence. Trade through this period reflects the demand we’ve nurtured in the local communities we proudly serve, which was further amplified by a rise in corporate Christmas parties as people sought more in-person interactions with their colleagues during the festive period. The success of this festive season underscores our commitment to delivering premium, bespoke pub experiences. Each of our establishments is carefully curated to resonate with the unique preferences and requirements of its local market, ensuring a personal touch that sets The City Pub Company apart.” Earlier this month, shareholders at City Pub Group approved its takeover by Young’s, with a total of 99.69% voting in favour of the acquisition. Young’s first agreed to acquire the Clive Watson-led group in November, with the deal being valued at around £162m.

 

Brakspear acquires two pubs from New Dawn Inns: Henley-based pub operator Brakspear has acquired two pubs from New Dawn Pubs, the Surrey-based company led by the founders of Red Mist Leisure. The Tom Davies-led business has acquired The Royal Exchange in Lindford and The Rose & Crown in Upper Farringdon. Mark Robson founded New Dawn Pubs in July 2022 alongside fellow directors Mark Williams, Julian Clarke and Julie Phipps, who also founded Red Mist Leisure in 2004. Following the sale of Red Mist to Red Lion Holdings, The Rose & Crown and The Royal Exchange were two of four former Red Mist pubs it secured for the new vehicle. The others were The Red Lion in Odiham and The Castle Inn in Farnham. The company later acquired The Gomshall Mill, near Guildford, which was formerly operated by The Restaurant Group-owned Brunning & Price. The company said: “The pub industry has changed so much over the last few years and continues to face significant headwinds and an array of unprecedented challenges, certainly the toughest we have experienced in the 20 years we have been operating pubs. This has led us to take the tough decision to consolidate our business. We have been diligent in finding a new home for both pubs, to ensure their continued success, and we’re confident Brakspear will be trusted custodians of the pubs going forward.” Last November, Propel reported that Brakspear had lined up a further opening for its managed division, Honeycomb Houses. It subsequently reopened the White Bear in Warlingham, Surrey, transferring it across from its tenanted division. The company is also working on the reopening of The Ghyll Manor, near Horsham, which it acquired in February 2022.

 

DRG planning London debut as part of expansion further into England, December lfl sales up 10% as group returns to pre-covid trading levels: Scottish restaurant operator Di Maggio’s Restaurant Group’s (DRG) is planning a London debut as part of its expansion further into England. The operator of 16 venues in Scotland, plus a single English site in Newcastle, has said it is actively exploring sites for new restaurants both in Newcastle and in London. Its second Newcastle opening, following the launch of its Grey Street restaurant in 2021, would be under the group’s Cafe Andaluz brand. It comes as the group, owned by Mario Gizzi and Tony Conetta, reported like-for-like sales were up 10% in December, and that it has returned to pre-covid levels of trading. Gizzi, who founded DRG in 1985 with his uncle, Joe Conetta, said: “We have a strong portfolio of brands and our plans are about growing what we have. We are actively looking at a site for a second Cafe Andaluz in Newcastle, and beyond that, we intend to take the brand and potentially other restaurants into London as well. We are researching suitable locations, and that includes the potential acquisition of other restaurant businesses with a view to converting sites into one of our existing brands if the opportunity is right. We’ve been in business for 40 years because we take a responsible and measured approach to growth, only moving when the opportunity is right, and that will continue to be fundamental to our approach.” DRG’s latest opening, a third Cafe Andaluz in Edinburgh in November, has served 20,000 visitors already, making it one of the brand’s most successful launches to date. “The reception has been exceptional and is exactly why we chose that location,” Gizzi added. “It’s another pillar in the progression of the business.” But while DRG has bounced back from pandemic – during which it did not make a single member of staff redundant – Gizzi believes the Scottish and UK governments must do more to support the sector. He added: “The current business rates system in Scotland is outdated and causes the licensed trade to lose 8.5% of turnover. Good operators are effectively penalised for their success by paying more for the same premises that poorer performing businesses would. In England, hospitality firms receive relief on rates, and we’d like to see the Scottish government take the same approach.”

 

Slim Chickens opens 50th UK site: US brand Slim Chickens, which is being rolled out in the UK by Boparan Restaurant Group (BRG), has opened its 50th UK site. It has opened at the Central Building in Gunwharf Quays, Portsmouth. “We are delighted to announce our 50th opening today at Gunwharf Quays Portsmouth!” the business said. “Another brilliant opening by all the team, with the new restaurant looking amazing. We continue to deliver, cooked to order fresh delicious chicken every time. We bring this culture to a fast, casual setting with fresh chicken tenders, sandwiches and wings. The meals are social and the food is honest with our deep southern hospitality roots.” Earlier this month, BRG said the opening of six Slim Chickens restaurants has helped improve its trading conditions in the year to 1 January 2023. In October, Slim Chickens signed up Norwich-based Starbucks franchisee KBeverage to aid its expansion here, under a new company called KChicken.

 

Pieminister franchisee outlines five-site plan for padel concept: Pieminister franchisee Mark Hewlett has outlined a five-site plan for his new padel concept, Soul Padel, based in the north west of England. Hewlett is also the founder of Black 29 Holdings, which last month became a franchisee in the north for pie and mash restaurant operator Pieminister. At around the same time, he founded Soul Padel, with the aim of further spreading take-up of the racket sport, which is also being promoted in the UK by concepts such as Padel Social Club and Club Padel. Hewlett aims to launch the first Soul Padel site this year, followed by at least four more, and has appointed consultancy Lamb & Swift to search for sites in places including Lancaster, Preston, Wigan, Bolton, Manchester, Warrington and Chester. It is seeking spaces of between 20,000 and 50,000 square feet, preferably with space for five courts, a pro shop, café and changing facilities. Hewlett said the growing UK padel scene has some 400 courts, a figure that has quadrupled in two years, but none in the north west. “At the moment there’s a little bit of hesitancy because the sport isn’t very well known,” he told EG. “When you look across Europe, a lot of padel centres have been retrofitted into industrial units, large former sport centres and many other different innovative uses of space. There’s a really big opportunity for that to happen here in the UK. A number of our competitors have already entered the market, taken large industrial sheds and converted them to indoor courts. We believe there’s a slightly better option, which is either purpose-built or more bespoke designs, to create welcoming and enjoyable spaces. From our research, and from what we’ve seen in Europe, brilliant centres to play padel in are going to be really successful and profitable opportunities. I’m more than prepared to take some landlords to Spain, Portugal or Italy to show them what can be done with space and just how income generative these centres can be.”

 

Manorview shares more than £273,000 with staff following record turnover and profit: Scottish independent hotel group Manorview has shared more than £273,000 with staff after reporting record levels of turnover and profit last year. The profit share scheme pay-out of £273,560, shared amongst 471 team members, beats the previous high of £162,479 paid to the team in January 2023. It follows the 12-strong business reporting revenue of £23,539,137 for the year ending 31 March 2023 (2022: £16,659,529) and a pre-tax profit of £1,958,027 (2022: £1,509,889). The amount each qualifying person gets is calculated on hours worked during a 12-month period rather than job title or salary. Managing director David Tracey said: “Every person in every role across our business impacts our success, so it’s right that profit is shared in a fair way. The calculation process ultimately means that it doesn’t matter whether someone is a kitchen porter, bar team, wedding sales manager, general manager, housekeeper or director – if they’ve worked the same hours, they get the same profit share.” All team members were also treated to an all-expenses-paid party at The Arches in Glasgow. Manorview chairman Steve Graham said: “We close all our venues so that every team member can attend – it’s fantastic to get everyone together to show our thanks and celebrate what can be achieved as a team.”

 

Swansea Burger King franchisee adds three sites with another in the pipeline, pays almost £3.8m in dividends: Swansea-based Burger King franchisee Unionburger has added three sites to take its estate to 15 restaurants, with another in the pipeline, and paid almost £3.8m in dividends last year. In the company’s accounts for the year to 26 March 2023, it said: “Buoyed by the strong underlying performance the company has opened three new restaurants post year end that have all now come on line, (Uplands Swansea, Southgate House Cardiff and Queens Street Cardiff). The director is pleased with the early performance of the new restaurants. A new restaurant in Bridgend (with a drive thru) is in the pipeline with the expected opening date around the summer of 2024. The company continues to monitor its portfolio of restaurants. Additionally, it embraces and adapts to changes in customers buying habits with the introduction of self-serve kiosks, ordering online and delivery services such as Just Eat, Uber and Deliveroo.” It comes after the business reported a drop in turnover for the period, from £18,594,362 in 2022 to £16,697,804, while its pre-tax profit was down from £3,434,966 to £823,247. Dividends of £3,780,000 were (2022: £2,081,505). Director Chris Baker added: “There has been a significant reduction in profitability. However, when you consider the following circumstances, the director is satisfied that underlying performance is strong and consistent with pre-pandemic levels. In particular, the company no longer benefited from the reduced rate of VAT introduced during the covid-19 pandemic. The Ukraine war led to an increase in both food costs and energy costs. While these could not all be passed on immediately to customers during the period, price increases have been made which take into consideration the stabilising of both energy and food costs. There was an approximate 10% increase in national minimum wage also. With the careful management of the restaurant portfolio and in particular management of rent costs, the underlying profitability remains strong. Accordingly, the director believes the company is well positioned to deliver strong revenues going forward.”

 

East London brewer changes MD as it adopts new business model to secure long-term future: East London brewer Exale Brewing has changed its managing director as it adopts a new business model to secure its long-term future. Mark Hislop, who is responsible for the brewery side of the business and was “a driving force in getting the brewery off the ground”, has stepped as managing director but remains a shareholder. He has been replaced in the role by business partner Andy Solley, who oversees the taproom and pub. “We’ve achieved year on year growth with a great array of accounts both locally and nationally,” the business said. “However, this is a time when breweries are facing unprecedented challenges and spiralling costs. To secure the future of the business, we have made the decision to change our business model. We will continue to brew, but this will be exclusively for our taproom and pub, plus our new site which we are aiming to open by the end of the year. This change will ensure the long-term sustainability of the business, guaranteeing the continuity of employment for our dedicated brewery and bar teams. Embracing this model ensures that we can keep brewing our experimental, small-batch beers for our loyal customers. Rest assured, the vibes you know and love will remain but with an array of improvements in store as the taproom undergoes a makeover this summer and a whole host of new beers. While our trajectory may have diverged from our original vision, the future is bright, and we are excited for you to join us on this new journey.” Exale opened its Walthamstow taproom in 2019, in partnership with Victory London Distillery, and last year added the Three Colts pub in Bethnal Green. At the time, it said it planned to add five more neighbourhood pubs by 2028. A spokeswoman for the business told Propel it is “still committed to one new site per year” and “actively viewing new venues”.

Frieze co-founder set to open new Southern European restaurant in Margate: Matthew Slotover, co-founder of Freize, the media and events company and operator of the Freize Art Fair, is set to open a new Southern European restaurant in Margate. He has partnered with artist Tom Gidely and designer/developer Gabriel Chipperfield for Colina, which will open on Wednesday, 7 February. The 35-cover space will be located on the ground floor of the Fort Road Hotel, the design-led seafront hotel the trio opened last summer. Head chef Luis Freitas will lead a menu of smaller and larger seasonal plates featuring premium seafood and cicchetti and inspired by his childhood memories of eating locally cooked food in his Portuguese hometown. With influences from the culinary traditions of Naples, Greece and Andalusia, it will offer dishes such as squid burger with green romesco in a freshly baked bun; house made Malfalde with slow cooked oxtail ragu; and pork belly with peperonata alongside daily evening specials. The wine list will focus on regions in Italy, Spain and Portugal, accompanied by the occasional French bottle and new world favourites, plus organic and vegan wines. There will also be a breakfast menu including shakshuka with hung curd and chilli. The restaurant is also connected to the hotels’ basement bar, which offers classic cocktails “elevated with house-made syrups and carefully preserved ingredients”. Slotover said: “We instantly fell in love with Luis’ cooking, and with Spain, Portugal and Greece being so often associated with some of the best seafood in the world, it made complete sense to introduce his Mediterranean palate to our waterfront hotel, adding another star to Margate’s crown of exceptional fish-forward restaurants.” Slotover also opened Mediterranean restaurant and bar Toklas in London’s The Strand in 2021.

 

Edinburgh guest house business acquires two new sites for £2.3m, profit drops due to ‘large investment’ in properties: Edinburgh guest house business K&S Mir has acquired two new sites for £2.3m and said its profit fell in the year to 31 March 2023 due to “large investment” in its existing properties. The business, owned by the Akbar Mir family, purchased the two new properties in June and July 2023 for a total of £2.3m. It comes after the business reported turnover of £12,310,867 for the year to 31 March, up from £10,865,363 in 2022. Its pe-tax profit fell from £4,108,865 in 2022 to £3,038,719. It received no government grants compared with £139,086 in 2022 but did receive £2,035 in insurance pay-outs (2022: £10,691). No dividends were paid (2022: nil). In the prior year, the business refinanced by way of a £12.9m bank loan, of which £11.7m is still owed. “These results are a reduction on budget but have been expected due to the large reinvestment into the fabric of several properties coming out of covid,” director Khwaja Akbar Mir said. “This follows on from two prior years of unexpected profits where all non­essential repairs and investment was put on hold. There was a small increase in overall occupancy levels to 98.6% and an average room rate increase to £61.59. K&S Mir continues to review its portfolio and assess purchase and development opportunities in line with our strategy.” Rooms sold in the period were 190,364 (2022: 181,281) at an average rate of £61.59 (2022: £59.49). Occupancy was 98.6% (2022: 97%) while revpar was £60.71 (2022 £57.71).

 

Team behind Cheltenham fish and chip shop opens third site for Greek cuisine concept: The team behind Cheltenham fish and chip shop, Bath Road Big Fish, has opened a third site for its Greek cuisine concept, Suv-Laki. The brainchild of Greek-Cypriot Andri Gavriel and her husband Nicholas, the first Suv-Laki opened within the pair's chip shop at 166 Bath Road in July, followed by a dark kitchen in Stratford-upon-Avon. It has now opened a second dark kitchen, in Hockley, to deliver its souvlaki, gyros, wraps and bowls to the local area. “We have a fish and chip shop in Cheltenham and introduced a Greek menu in July,” they told Birmingham Live. “It did really well, and so we opened another one in Stratford-upon-Avon. Starting with a dark kitchen in Birmingham is a good way to see if we could break into a new area, without spending £200,000-£300,000 on kitting out a whole shop. The fish and chip shop has always been fairly successful but with covid and then the rise in prices on the fish, oil, gas and electric, we took a bit of a hit. We’ve had to look at other ways to keep it going, because if we hadn’t, it might have wiped us out like it has other small businesses.”