Europa Capital, the pan-European real estate investment manager, in joint venture with operating partner, Sovereign Centros, announces that it has expanded the casual dining offering at One Stop Shopping, Perry Barr, Birmingham, with the addition of a new Nando’s restaurant.
Nando’s has committed to a new 20-year lease on a 3,649 sq ft unit at an initial annual rent of £82,500, with a break option at the 15th year.
The prominently located property faces onto the 1,225-space car park and is currently undergoing preparatory fit out works, which are due to complete in time for the scheduled opening this October.
Alex Druttman, Director at Europa Capital, commented: “Nando’s will make an excellent addition to our tenant mix at this shopping centre, as a well-known and popular casual dining option. One Stop continues to perform well and is seen as a destination retail centre in north Birmingham. Casual dining offerings help increase dwell time and improve overall customer experience.”
Simon Phipps, Senior Development Manager at Sovereign Centros, said: “This popular and successful restaurant brand will significantly enhance the dining offer within the centre which already includes Burger King, KFC, Greggs and Subway.”
Europa Capital and Sovereign Centros were advised by Savills, Cushman & Wakefield and Wright Silverwood. RedLeaf Ltd acted on behalf of Nando’s.