The Sterling, City of London, sold by Fleurets
Acting on behalf of the vendor, Balls Brothers, Fleurets has sold The Sterling bar in The Gherkin. The leasehold interest has been purchased by Mosaic Pub and Dining, who were assisted by funding from Metro Bank. Mosaic Pub and Dining possess a portfolio of premium sites spanning London, Birmingham, Cheltenham, Kent and Warwick. Each site has its own identity, with a common theme of offering a wide selection of high quality food and beverages.
The Alchemist to open in Canary Wharf
The Alchemist is set to open its largest site to date in Canary Wharf, reports Big Hospitality. The 6,200 sq ft space will also feature a 'grab and go' menu using bagels from Shalom Hot Bagels in East London. The Canary Wharf opening brings their portfolio to 18 sites, with further openings planned for Nine Elms in London as well as Cheltenham and Edinburgh.
Cambridge's Tamburlaine Hotel sold to Dalata Hotel Group
155-bedroom, four star hotel, the Tamburlaine Hotel in Cambridge has been sold to Dalata Hotel Group, reports Boutique Hotelier. Dalata will operate the hotel, which will be rebranded as Clayton Hotel Cambridge, under a 30-year lease.
Founders of Rosa's Thai Café acquire Cerviche sites
Founders of Rosa's Thai Café, Alex and Saiphin Moore, plan to grow Cerviche, having acquired the business out of administration. Propel reports that, having sold a majority stake in Rosa's to TriSpan, the founders of Rosa's acquired the Cerviche site in Frith Street as well as Andina in Shoreditch and Casita Andina in Great Windmill Street. Purchased under their turnaround company Atomex, they intend to run the businesses until Christmas, after which they will look to engage with previous shareholders.
Azzurri announces year-end results
Azzurri, owner of ASK Italian, Zizzi, Coco di Mama and Radio Alice, has announced an increase of 7% in group sales, to £299.4m for the year ended 30th June 2019. Furthermore, the Bridgepoint-backed company reported that there was like-for-like sales growth across all four brands and full-year adjusted Ebitda increased from £37m to £38.1m, a 3% rise; with a slightly lower Ebitda margin of 12.7% compared with 13.2% the previous year. Propel reports that the group opened 10 new sites over the year.
Shelter Hall on Brighton's seafront is set to be transformed into a food hall next summer, reports Big Hospitality. Run by Sessions Market, led by former Deliveroo MD, Dan Warne and restaurant industry veteran Graham Turner. With seating for over 250 diners, the food hall will also have space for ten independent traders.