TGI Friday’s signs 15-year lease on first ‘smaller footprint’ site

TGI Friday’s will break from tradition by opening a new restaurant in Reading that will be noticeably smaller than what it normally opts for.

The chain, which serves authentic American food and cocktails, has agreed to join the line-up of riverside restaurants at The Oracle in Reading, but is only a taking a 3,375 square foot unit. However, it remains firmly committed to the destination having signed a 15-year lease on the site.

Leisure developer Hammerson, which manages the shopping centre, confirmed that it had reached an agreement with TGI and suggested it might pave the way for it to embrace other smaller footprint sites.

“While TGI Fridays will provide its usual full restaurant offer, in a move that is the first of its kind to be rolled out nationally the brand has taken a unit that provides them with a smaller footprint,” it said.

The new-look restaurant is scheduled to open in autumn this year and will be located alongside Cote restaurant.

Hammerson has been successful in attracting a number of international names across retail and dining to The Oracle during the past year. Last week, Argentinean-inspired steak restaurant CAU made its UK shopping centre debut at the venue.

Sarah Fox, head of restaurants and leisure at Hammerson, said: “By refreshing our tenant mix it ensures that The Oracle continues to have all the elements to ensure that our customers have a fantastic retail, leisure and dining experience when they visit, which is why the centre enjoys a loyal customer base and strong footfall. TGI is a great addition to The Oracle’s riverside dining offer and we look forward to welcoming them.”

Main photo: Stock image




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