Hospitality leaders stay cautious but relief on inflation raises hopes on sales and margins: Britain’s hospitality leaders remain cautious about the future as pressure on the cost of doing business continues, CGA by NIQ’s latest Business Confidence Survey has revealed. The poll indicates just under half (49%) of leaders feel confident about prospects for their business over the next 12 months, down by four percentage points from May’s figure of 53%, and a third consecutive quarter-on-quarter drop. Meanwhile, 36% of leaders feel optimistic about prospects for hospitality in general over the next year, a quarter-on-quarter rise of two percentage points but nine behind the level of August 2023. Hospitality’s confidence has been sapped by several years of high inflation and challenges in several key areas continue – especially labour, where nearly three in five (58%) leaders have experienced significant increases in wage costs in the last 12 months. Three quarters (75%) have seen at least some increases in food costs. These pressures, alongside a drop in footfall, have led a third (33%) of leaders to reduce trading hours in their estates. While confidence remains guarded, there are signs that optimism may start to build as inflation eases in some costs. Half (50%) of leaders have seen a reduction in their energy bills over the last 12 months, and more than half (56%) have not seen any further increase in renting costs. Only 9% think their business is at risk of failure in the next year, while the number trading at a loss has dropped by five percentage points year-on-year, to 9%. The survey also highlights the need for support for the hospitality industry from the new government, especially on tax. Nearly nine in ten (88%) respondents said reform of business rates was a top-three priority, with a targeted reduction in VAT (67%) and more sustainable increases in the national living wage (52%) among other top concerns.
 
Job of the day: COREcruitment is working with a growing purchasing business specialising in procurement for premium hospitality clients that is seeking a head of sales. A COREcruitment spokesperson said: “The head of sales will be responsible for networking, selling and opening doors for new business within the premium hospitality sector. Strong knowledge of the sector is essential and being able to bring a black book of key contacts will be beneficial.” The salary is up to £80,000 and the position is based in London. For more information, email mikey@corecruitment.com.
 

Company News:

Young’s CEO – our estate is now well balanced, Friday is our second biggest trading day: Simon Dodd, Young’s chief executive, has told Propel that the group’s 288-strong estate is now well-balanced, and as the City gets a bit quieter, the suburbs start to pick up. Earlier this year, the business acquired the 55-strong City Pub Group for £162m, alongside a further eight acquisitions. Dodd said: “The City gets a bit quieter, but the suburbs start to pick up. We’re picking up around half a per cent like-for-like each week at the moment, on a year-to-date basis. I think if you look at our estate now, Thursday is the big day in the City, and then Friday is our second biggest day of the trading week because consumers are not in the City – they’re in Surrey, they’re in Berkshire, they’re in Richmond. I think our estate is now quite well balanced – it’s not all dependent on that City regular drinker being out on Thursdays.” Dodd said rather than the company focusing its acquisitions in line with this change, and therefore looking more regionally, its strategy has been more around the availability of sites. He said: “I would buy sites in London every day of the week if I could. I joined in 2019, and since then we have only bought three pubs in London, not through want of trying. Now, with City, we’ve added 20 pubs in London. That’s worth its weight in gold.” Dodd said The Tattenham Corner in Epsom Downs, acquired last November from Whitbread, will turn out to be “our biggest taking pub outside of London” – especially with a number of rooms set to be added. He said: “There’s also the four Marston’s pubs we bought, which have been wonderful. The Huntsman in the New Forest is now turning over £40,000 to £45,000 a week.” Dodd said the business will not exclude acquiring pubs without rooms, or the ability to have them, but admits there has been resurgence in the pub space around accommodation, whichYoung’s wants to tap into that “as much as possible”. The business has also appointed Ian Dyson, formerly chief executive of Punch Taverns, as a new non-executive director. Dyson is currently chairman of Currys and a non-executive director of JD Sports Fashion.
 
Matthew Fleming steps down as Vagabond MD: Matthew Fleming has stepped down as managing director of Vagabond Wines, which was acquired out of administration by Majestic earlier this year, to take up an “exciting new role within the hospitality sector”, Propel has learned. Fleming joined Vagabond as its new managing director at the start of 2021. He was formerly head of drinks innovation at Stonegate Group and head of innovation at Be At One. Majestic, the UK’s largest specialist wine retailer, bought Vagabond out of administration for a total consideration of £6.5m. The deal, which saw £5.8m paid on completion, saved nine of the 12 wine bars from closure and 171 jobs. The sites in London’s Battersea Power Station, Charlotte Street, Fulham, Monument, Northcote Road, Paddington, Shoreditch and Victoria, as well as its Birmingham outlet, were included in the deal. Majestic chief executive John Colley told Propel: “Matt has played a crucial role in Vagabond’s strategic progress and sales growth over the past three-and-a-half years, opening new bars and helping its customers discover and enjoy even more quality, innovative wines. He has also displayed fantastic leadership during what was an uncertain period for Vagabond’s teams and its customers. Matt has now decided to take up an exciting new role within the hospitality sector. I’d like to personally thank Matt for all of his hard work, passion and dedication during the acquisition process – this has been absolutely vital in ensuring that this exciting new partnership between Majestic and Vagabond got off to the best possible start. We wish Matt every success in the future. We are actively recruiting for Matt’s successor and in the interim I will be working closely with the existing experienced management team at Vagabond.”

Megan’s returns to profit: Megan’s, the all-day, neighbourhood restaurant concept, returned to profit in the year to 31 March 2024. The company turned a pre-tax loss of £1,988,731 in 2023 into a profit of £2,714,036, despite an increase in costs of more than £3m. It comes after Propel reported in May that the company’s turnover grew from £26,457,133 to a record £29,599,540 during the year, with company Ebitda up to £4.8m from £2.7m. The company received no government grants compared to £7,744 in 2023. “The financial highlights continue to demonstrate strong rates of revenue growth, both in terms of like for like sales from the mature estate and from new site openings,” said director Gillian Clements. “The results reflect strong one year like for like sales growth of 2% and the positive impact of the new site opening programme, with two sites opened in the financial year. The increase in the adjusted Ebitda % from 10.1% to 15.0% is largely reflective of improvement in operational performance at site level, with a new operations team joining including an experienced operations director, combined with the launch of several market leading systems to drive operational excellence and thus improve conversion.” During the year, the company reduced its Coronavirus Business Interruption Loan Scheme loan from £1,313,456 to £558,401. Post year end, in April, it repaid £350,000 to its ultimate controlling party, with a further £450,000 due by January 31, 2026. Propel revealed in June that Megan’s had appointed advisors as it explores its further funding options, which could include a sale of the 20-strong business. The company opened its 21st site, in Weybridge, last week, with a further Surrey site due to launch in Farnham next month. It is also understood to be in advanced discussions on sites in Crouch End and Blackheath in London, as well as Beaconsfield in Buckinghamshire and Oxford.

Rhubarb hires new vice-president of business development: Rhubarb Hospitality Collection, the premium international hospitality group, has hired a new vice-president of business development. Tom Crocker will focus on delivering growth across key channels including venues, cultural locations, business and industry and travel locations. In his most recent role, as business and innovation director at international food operator Aramark, Crocker delivered year-on-year growth and worked to drive innovation in technology, brand development, new concepts and culinary partnerships within the UK market. He also created and led Aramark UK’s employee resource group and championed diversity in the workplace through workshops, events and employee training. Rhubarb chief executive PB Jacobse said: “Tom’s expertise in growth and development for food and events companies will be invaluable during this key period of expansion and beyond as we continue to focus on building our presence with the UK, the US and across Europe.” Crocker added: “The diversity of Rhubarb’s offer to the marketplace means we’ve got some incredible plans and opportunities coming up, and it’s a real honour to continue its legacy of growth.”
 
Berberè eyes West End opening: Berberè, the independent Italian company founded by brothers Salvatore and Matteo Aloe that operates 19 sites, including two in London, is eyeing an opening in the capital’s West End. Propel understands that Berberè is in talks to open at 2 St Giles Square, which will also be home to a new site from the world’s first prison-based coffee company, Redemption Roasters. Last summer, Berberè secured new investment to aid further expansion in Europe. Milan-based investment firm Hyle Capital Partners made a “significant injection of capital” into Berberè, while the founders acquired the 23.5% stake in the business previously held by Miscusi. Berbere said that with the new funding, it planned to open five new locations each year for the next four years, both in Italy and across Europe. Berberè currently operates 17 sites in Italy across Milan, Bologna, Turin, Florence, Rome and Verona. It also operates sites in London’s Kentish Town and Clapham. The business acquired a majority share of Radio Alice, the joint venture it set up with Azzurri Group in 2016, at the start of 2020.
 
Origins 1450 acquires The Gentlemen Baristas: Origins 1450, the parent company of Qima Coffee and Qima Café, has acquired specialty coffee roaster and café group The Gentlemen Baristas. Origins 1450, which is an integrated value chain coffee operator with a presence in 11 countries, said the strategic move positions the business at the forefront of the UK coffee industry, with plans to create the nation’s first vertically integrated specialty coffee roastery. It said the new partnership will enable The Gentlemen Baristas to “elevate its coffee offerings through direct and transparent sourcing, aligning with Origins 1450’s mission of building an equitable and sustainable coffee value chain”. Qima Coffee currently supplies specialty coffee roasters in more than 40 markets globally and opened its own retail outlet, Qima Café, in London in September 2022, which showcases coffee from Qima’s global network of partner farmers and roasters. Launched by Henry Ayers and Ed Parkes in 2014 with a coffee shop in Borough, London, The Gentlemen Baristas opened its roastery in 2018 and operated 11 coffee shops across the capital before entering administration at the start of this year. It was acquired out of administration by an unnamed buyer for £785,000, which included its 12,000 square-foot Stratford roastery and a cafe in London Bridge. It now operates two sites, in Piccadilly and London Bridge. Parkes said: “This marks an exciting new chapter in the evolution of The Gentlemen Baristas. From seed to cup, this ground breaking new partnership will allow us to deliver our customers the best well-mannered coffee yet. We couldn’t have found a better partner in coffee than Origins 1450 as our values and outlook are truly aligned.” Basel Almadhoun, chief of staff at Origins 1450, added: “We are excited to welcome The Gentlemen Baristas into the Origins 1450 family. This acquisition is a significant step forward in our mission to lead the specialty coffee sector in the UK. By integrating Gentlemen Baristas into our operations, we are set to create the UK’s first vertically integrated specialty coffee roaster, offering a truly seed-to-cup experience.”
 
WatchHouse opens Marble Arch site: Specialty coffee concept WatchHouse has further increased its presence in London with an opening in Marble Arch. The company, which now operates 19 sites in London, plus one in Bath and one in New York, has opened at 60 Seymour Street. Roland Horne, founder and chief executive of WatchHouse, said: “Marble Arch has always been a gateway to the heart of London, and now, it’s a gateway to something even more – a space where coffee and community intersect. Our Marble Arch house embodies everything we stand for, from our commitment to beautifully crafted spaces to our dedication to serving our guests with care and expertise. It is cosy, intimate which is the perfect combination for our experience.” WatchHouse is expected to open its second US site, in New York’s Chrysler building, this autumn, with further London outlets to be opened in Battersea Power Station and Millennium Bridge.
 
Big Mamma confirms regional UK debut in Birmingham: Big Mamma Group, the McWin-backed restaurant group, has confirmed it will make its regional UK debut in Birmingham at the end of this year. As revealed by Propel in June, Big Mamma, which operates 26 sites across Europe, will open on the former Vinoteca site at the Paradise development, 2 Chamberlain Square. Called La Bellezza, the restaurant will feature a collection of homemade Italian dishes, with 150 covers indoors and a 25-cover terrace. Big Mamma co-founders Victor Lugger and Tigrane Seydoux said: “We are excited to be coming to Birmingham, not only to be part of its incredibly vibrant restaurant community, but to also bring our superb Italian products, which we spent three years personally sourcing from small, family-run artisans to another major European city.” Last September, McWin, the investment firm of food industry entrepreneurs Henry McGovern and Steven Winegar, acquired a majority stake in the Big Mamma Group. The long-term investment made out of the McWin Restaurant Fund saw Big Mamma Group valued at €270m. The investment is set to help the business expand further in its existing territories and into new ones. The company plans to open a new Italian restaurant and bar in the St Michael’s scheme in Manchester and has also lined up an opening in London’s Canary Wharf, for what would be its sixth site in the capital.

Pret launches autumn menu including return of flatbreads: Pret A Manger has launched its autumn menu, which features an array of “upgraded breakfast ciabattas, comforting toasties, hearty soups, and indulgent pastries”. The company said new and improved flatbreads return by popular demand, with new options like the shawarma spiced chicken, Mediterranean style tuna and the falafel, avocado and chipotle. The brand has also introduced a new category of pastries to its menu, including a cinnamon crown. The new menu also features the triple sausage ciabatta, a veggie breakfast ciabatta and the ultimate breakfast ciabatta, which combines British pork sausage, beechwood smoked British back bacon and a roasted tomato omelette with chives. For lunch, Pret is introducing two new toasties – the mushroom Florentine and the chipotle chicken and feta. It is also bringing the back butternut and sage soup and lasagne soup, while the beef and horseradish baguette and brie and bacon baguette also make a return.

 
Midlands smash burger business aiming for up to 15 stores plus international debut by end of 2025, first franchise location opening this month: Midlands smash burger business Brgr Lab has told Propel it is aiming for up to 15 stores, plus an international debut, by the end of 2025, as it prepares to launch its first franchise location this month. Brothers Hamzah and Hassan Islam, who previously ran a marketing and branding agency together, launched Brgr Lab in 2020, opening its first restaurant in Coventry’s Stanton Road that same year. It launched a franchise programme earlier this year and will now open its first franchise location later this month, at Braunstone Gate in Leicester – part of the De Montfort University campus. This will be followed by a second, in Birmingham, in December, with further sites in London and Scotland in the pipeline for later this year. “We are located in the Midlands, so we are currently looking north and south,” the founders told Propel. “We have had a lot of interest in both Yorkshire and Manchester, plus east, west and north London. We envisage Brgr Lab to grow to ten or 15 stores by the end of 2025, with one or two international openings also in 2025. We are seeking franchisees who are experienced and dedicated, have experience in management in food and are willing to grow the business in their territory.” Their first franchisee, who will be opening the Leicester site, is Jamshaid Akhtar, where he will be “catering to the dynamic student population and local community”. Akhtar said: “Leicester is one of the food capitals of the UK. We believe that Leicester is the perfect location for our first franchise store, with its thriving student community and diverse population. We are eager to introduce our unique concept to the city and become a beloved part of the local scene.”
 
Aviary Hospitality secures Poole site for Flamingo Café Bar concept: Bournemouth operator Aviary Hospitality Group, founded by entrepreneurs Joshua Simons and Steve Crawford, has acquired a further site for its Flamingo Café Bar concept. The business, which is also the owner of the Chicken & Blues concept, has acquired Le Bateau in Ashley Cross, Poole. The venue, which has traded as Le Bateau for 27 years, will be transformed into a Flamingo Café Bar. It will join the group’s other Flamingo site in Boscombe Spa, after the recent closure of the original site under the concept in Winton. The business also operates Chicken & Blues sites in Bournemouth, Christchurch and Poole. Crawford said: “We are thrilled to have the opportunity to bring Flamingo’s all-day café bar experience to the bustling neighbourhood of Ashley Cross – an area that we are very familiar with, having had Chicken & Blues just down the road for approaching ten years.” On the Winton closure, Simons said: “The lease at our Winton property has recently expired, and despite our best efforts, we have been unable to agree on new terms with the landlord. Needless to say, this is frustrating, as it has been a popular location over the last four years.” Flamingo Café Bar “by the Green” in Ashley Cross is slated to open before Christmas this year.
 
Glasgow hot chicken concept’s first franchisees acquires second store, attracting overseas interest: Glasgow hot chicken concept Lucky B’s first franchisees have acquired their second store, as the business begins to attract interest from overseas. Usman and Sohail Ghafu, who used to run four Subway stores in Glasgow, have added the original Lucky B’s store in Giffnock to their portfolio and are already looking at locations for a third. Lucky B’s was created by friends Giancarlo Celino and Toni Dobrenko, opening the Giffnock store, at 205 Fenwick Road, in September 2022. A second store, at 2 Hillington Road South, in the Cardonald area of Glasgow, opened earlier this year. “We are delighted that Usman and Sohil have decided to become not only our first franchisees, but our first multi-unit franchisees,” said Celino. “They truly believe in the business and want to be part of this incredible journey we are going on.” Dobrenko added: "The interest we have had in Lucky B’s has been immense. We have had enquiries from across the UK, and even some really interesting discussion from groups in Dubai and South Africa.” In May, Lucky B’s signed a 15-store deal with Subway franchisee Ross Fairbairn, who operates 22 Subway stores across Lancashire, Merseyside and Cumbria under his Quick Serv business. He will open his first Lucky B’s store, and the business’ first outside of Scotland, in November, in Blackpool.
 
Chicken Cottage set to open three new stores this month: Halal fast food company Chicken Cottage is set to open three new stores this month as it builds towards its target of 100 stores globally by 2027. It comes after the brand last week opened its latest franchise, at Unit 4 in the West Local centre in Collier Place, Houghton Regis, Dunstable, Bedfordshire. It now has 67 UK stores, as well as a handful in Africa and south Asia. “What an incredible week for Chicken Cottage,” said business development manager Sadaf Kazi. “We kicked off with a new location in Dunstable and celebrated the relaunch of our Hounslow East branch under fresh management. But that’s just the start – September will see three more stores opening! We’re going places, and this is just the beginning.” The brand, which is owned by TGI Global Holdings, is especially seeking area developer franchisees for the Midlands.
 
Mayfair Chippy to open second London site in November as it begins expanding again: Mayfair Chippy, the London fish and chip shop concept, is set to open its second site in the capital in November, in Knightsbridge. The concept – which was founded by Pete Taylor, Jamie Jones and George Hammer in 2014 – is launching the outlet in Brompton Road. The venue will offer an all-day dining experience as it introduces a breakfast offering. Spread across two floors, the 104-cover restaurant will also have a gin bar serving a selection of cocktails and a 24-cover heated outdoor dining space. The concept offers dishes such as shepherd's pie with braised lamb shoulder, HP gravy and seasonal greens alongside the more traditional fish and chips. The breakfast menu will feature the Butchers Breakfast – Cumberland sausage, old spot smoked bacon, roast tomato, Doreen’s black pudding, Portobello mushroom, “posh” baked beans, hash brown, sourdough toast, and organic eggs of any style – as well a plant-based alternative. The original Mayfair Chippy is in North Audley Street. The business also previously had sites in Clapham and the Minories, but these closed in 2019 and 2021 respectively.
 
SpiceBox reopens its debut restaurant: Vegan Indian restaurant business SpiceBox has reopened its debut restaurant. Founder Grace Regan opened her first SpiceBox site in Walthamstow in 2019, followed by a second, in Leytonstone, in October 2021, and had plans to expand both in and outside of the capital. The Leytonstone site closed late in 2022, followed by the Walthamstow site in April 2023, but the latter has now opened once more. It follows the brand’s acquisition earlier this year by sustainable broth business, Borough Broth – led by Rosamund Heathcote, who is now SpiceBox’s managing director. “It’s been 16 months since we closed our Walthamstow restaurant, but I promised we'd be back, and I don't break promises,” Regan said. “After the restaurant closed, I took a much-needed break to spend time with my family, adjust to motherhood, and think about what’s next for SpiceBox. Life was still busy, but in a different way. My cooking took a back seat, and I was desperate to find speedy, nourishing meals that tasted as good as the ones I used to make (to blow my own trumpet). I missed our retail dals – I was suddenly the perfect customer for them. And so, I decided to bring them back. Shortly after, as if by magic, I met fellow food founder Ros, who had everything I needed to make this happen. Namely, a shared vision, a big kitchen and a fantastic team. We decided to join forces. If the dals were going to have a comeback, they had to be even better. So I put the hairnet on, got back in the kitchen, and started cooking again. But ‘even better’ wasn’t just about flavour; they had to be better for the environment too. I had been learning more about the importance of soil health and biodiversity for our future food security, and if I was going to play another role in the food system, I wanted to do as much as I could to contribute to both of these. And so we went organic. We’re starting with two classics, tarka dal and moong dal, and are already busy working on more recipes. I am so proud of this new chapter.”

Heineken moves Brixton Brewery production to sister site Beavertown: Brixton Brewery has announced that, having outgrown its site off Milkwood Road in Herne Hill, it is moving most of its production to a state-of-the-art brewery in Enfield, north London, which is also home to Beavertown Brewery. Managing director and co-founder Jez Galaun said that to facilitate rapidly growing demand for Brixton Brewery beer, “we have taken the difficult decision to begin to move production away from our dedicated main brewery in Dylan Road”. He said: “There is no space to expand where we are, and with the expiry of our lease coming up, we need to plan the future of our growing business. We recently became the UK's fourth largest craft brewery – but that success has meant we are now having to manage production across multiple brewing sites to keep up with demand.” Galaun and three friends started the business in 2013, in a single railway arch in Brixton Station Road, and in February 2021, Heineken fully acquired Brixton Brewery.
 
Brayford Hotels reports record turnover and profit: Brayford Hotels – which operates sites in Hull, Grimsby and Lincoln – has reported turnover increased to a record £16,163,431 for the year ending 31 December 2023 compared with £14,365,913 the previous year. Pre-tax profit was up to a record £2,189,986 compared with £2,143,343 the year before. Occupancy grew to 79.94% (2022: 76.98%). In their report accompanying the accounts, the directors stated: “The sector continued to be influenced by external factors throughout 2023. With the effects of the covid-19 pandemic largely behind us, pressure from continued high inflation remained at the forefront, with inflation rates remaining substantially above the government target, which continued to cause supply chain issues that needed to be closely managed to ensure there was no impact on the hotels operations. The volatility in the energy markets continued and following the initial measures put in place to mitigate the substantial price increases, a further decision was made to renegotiate electricity contracts, enabling the hotels to take advantage of wholesale market prices through a flexible purchasing agreement allowing forward prices to be fixed. In an attempt to curb inflation, the Bank of England continued to raise interest rates in the first half of 2023, which increased sharply the costs of finance. This resulted in a £630,000 increase, year on year, in finance costs for the group. At the year end, the group had healthy net assets of £13,590,986 (2022: £11,933,378) and a stable cash position, which provide strong foundations for the group to continue to grow despite the challenging market conditions.” No dividend was paid (2022: £196,000). The group employs around 280 staff.
 
Newcastle bagel shop set to open third site: Newcastle bagel shop Dot Bagel is set to open its third site. It will open in the former Greggs outlet in Acorn Road in Jesmond in September, offering a menu of six different types of bagel and 18 different fillings, reports Insider Media. The Jesmond opening marks a return to Acord Road for the business, which had a branch there under previous ownership. Owner Stuart Young said: “Not only is Acorn Road a thriving destination venue, with a high proportion of independent traders, but it’s also home to a huge number of students and they form a sizeable percentage of our existing customer base. We are looking forward to bringing Dot Bagels to Jesmond.” The site joins Dot Bagel’s other locations in Heaton’s Chillingham Road and at the Claremont Teahouse in Newcastle. Young, owner of north east bakery Kennedy & Rhind, acquired the Dot Bagels brand in December 2022 after the company behind it went into liquidation. The original Dot Bagel was founded by Craig Robinson and grew to five sites in its first year. Young is also behind the Northumberland Restaurant Company and several sister brands including Northern Bar Management – which operates The Blackbird in Ponteland, The Northumberland Arms in Felton and Novellos in Washington. Earlier this month, it partnered with Kleo Tabaku, owner of the Lovage and Oster restaurants in Jesmond and Gosforth, as part of a consortium that acquired Newcastle’s Anarchy Brew Co brewery out of administration.
 
Glasgow pizzeria opens second site, plans further expansion: Glasgow pizzeria Rockvilla Pizza has opened its second site and plans further expansion in the city. Having launched the concept five years ago at 6 Possil Road in the city’s Port Dundas, owner Jim McLaughlin has now opened at 4 Tullis Street, near Glasgow Green. The original restaurant, now known as Rockvilla West, offers both delivery and sit in, while the new addition, Rockvilla East, is a takeaway and delivery only location. “We have just turned five so what better way to celebrate than bring our fresh, authentic pizza to even more people in the city centre?” McLaughlin said. “We have massive plans – look out for Rockvilla North and Rockvilla South, coming soon. For now, we are delivering to as much of the city centre as possible, and the east end. And, of course, our original spot has seating for a restaurant experience. Thank you to everyone for supporting us in our first five years – just wait until you see what’s coming up.”
 
Freehold investment of Derby site occupied by Gym Group sells for £1.3m: The freehold investment of a site in Derby occupied by The Gym Group has been sold for £1.3m. The 11,643 square-foot purpose-built unit at Southgate Retail Park has been acquired by Connect Derby Properties. The Gym Group, which operates around 240 sites across the UK, has leased the unit since 2011. Southgate comprises 48,000 square foot of retail space, anchored by a Lidl store. Bond Wolfe acted on the deal.