Nando’s Dishes Up 250th Site
June 30, 2011
Nandos Group, the fast-casual Portuguese chicken restaurant chain, has acquired three new sites as part of its roll-out programme, bringing it to a total of 250.
The first unit, in Londons West End, is located on Great Portland Street, between Villandry and Demartino, a former Lloyds TSB bank branch comprising 3,500 sq ft on the ground floor. Nandos has taken a new 25 year lease at the site at £150,000 per annum exclusive.
The chain has also taken a 4,357 sq ft site at a former HMV site at Cathedral Square in Peterborough on a 20 year lease at £90,000 per annum exclusive, and a former Chicago Rock Cafe unit at Braintree Retail and Leisure Park totalling 4,735 sq ft on a new 20 year lease at £91,500 sq ft.
Nandos now has a portfolio of 250 sites in the UK and Ireland. Its private equity owners, Capricorn Ventures, are also behind The Real Greek and Gourmet Burger Kitchen chains. Nandos most recent acquisitions include new sites confirmed at Westfield Stratford City and Greenwich Promenade.
Brandon Elmon, who advises Nandos on the acquisition of new premises, said: Nandos, alongside a range of other fast-casual brands dominating the UK market, has benefited from a reduction in consumer spending and the brand is now stronger than ever.
“However, the growth pipelines of many restaurant chains we are currently advising are proving harder to to meet due to the lack of good site opportunities becoming available, particularly in Central London. There is such intense competition for the sites of former bank closures and struggling retailers such as HMV, for which substantial premiums are increasing and looks set to stay for the foreseeable future.
Earlier this year, the Peach survey named Nandos as one of the nations most admired restaurant brands, considered one of the top five brands to watch alongside Jamies Italian, Pizza Express, Cote, Drake & Morgan and Geronimo.