Various Eateries, the parent company of Italian restaurant chain Strada, has disposed of the 5,000 sq ft Strada unit on East Street in Horsham, West Sussex, to Turkish restaurant group Izmir Enterprises.
Global real estate advisor Colliers International advised Various Eateries. A new rent of £82,500 per annum.
Nearby casual dining outlets on East Street include Wagamama’s, Nando’s and ASK Italian.
Abban Magos, Licensed & Leisure, Colliers International, said : “This deal demonstrates that there is still good demand in affluent towns across the UK for characterful, prime high street restaurant properties.
“In the wake of a decline in the UK’s casual dining sector, small, independent restaurant operators are now seizing the opportunity to occupy prime restaurant units, which even two or three years ago would have not been possible.”
The lease assignment to Izmir Enterprises releases Strada’s lease obligations and allows Various Eateries to focus on other areas of its business, namely ‘Coppa Club’ and ‘Above & Below’, which it is actively growing through new acquisitions and conversions of existing Strada sites.