Rival casual dining chains are competing for sites vacated by collapsed steakhouse Cau, the property agent responsible for offloading the sites has indicated.
Cau was axed last week in a bid by administrators Deloitte to increase the chances of finding a buyer for sister brand Gaucho after the Gaucho Group revealed it could no longer continue trading solvently.
Property specialist GVA has been appointed to market the Cau leasehold portfolio, which comprises 22 locations spread across England, as well as Edinburgh and Glasgow.
Stephen Cowperthwaite, head of retail, hotels and leisure at GVA, who is leading the exercise with Alan Ryall, from the company’s Restructuring Solutions team, said they have already received “strong interest” in large parts of the portfolio.
“We are working alongside our Restructuring Solutions team extensively at present both on formal and informal projects within the retail and F&B sectors amongst others. Specifically within the casual dining market, it is clear that there remains occupier demand for the best trading locations, especially those within destination developments where units rarely come to the open market.”
Mr Cowperthwaite added: “Cau represents a strong underlying portfolio of restaurant premises located across the UK, situated within both prime high street locations and destination leisure developments.”
The full list of available sites includes: