The Restaurant Group (TRG) has instructed international real estate advisor Savills to sell 23 of its former restaurants in England, Scotland and Wales.
The units are available on an individual basis and comprise a mix of former Frankie & Benny’s, Chiquito, Joe’s Kitchen, Coast to Coast, Garfunkel’s and Filling Station restaurants in high profile locations including major retail and leisure parks, shopping centres and roadsides.
The restaurants, which are not currently trading, are being sold with existing planning and licensing consents meaning they could be reoccupied quickly.
Savills expects the move to attract rival restaurant chains keen to get their hands on particular locations.
The list of 23 properties includes nine Frankie & Benny’s sites and eight Chiquito sites.
FEJ first revealed The Restaurant Group’s plans to offload under-performing units back in August last year, after carrying out a comprehensive review of the business.
David Bell, head of UK leisure at Savills, said it was “high profile portfolio” up for sale. “Due to the mix of locations and diverse nature of the restaurants involved, we are anticipating strong interest from a wide variety of existing retail and leisure operators as well as new entrants,” he commented.
Savills has also been retained to acquire new sites for TRG across the Midlands, East Anglia, the South of England and Wales. The Restaurant Group currently runs around 500 restaurants, making it the largest mainstream restaurant group in the UK.
The full list of properties for sale is as follows:
- Filling Station, Aberdeen
- Chiquito, Barking
- Frankie & Benny’s, Barrow in Furness
- Frankie & Benny’s, Bath
- Chiquito, Blackburn
- Chiquito, Cardiff (Old Brewery Quarter)
- Chiquito, Cardiff (Red Dragon Centre)
- Chiquito, Chelmsford
- Frankie & Benny’s, Coventry
- Joe’s Kitchen, Derby
- Frankie & Benny’s, Gateshead
- Chiquito, Glasgow
- Chiquito, Hamilton
- Frankie & Benny’s, London Finchley Road
- Frankie & Benny’s, London Greenwich
- Garfunkel’s, London Strand
- Chiquito, Milton Keynes
- Coast to Coast, Newcastle Upon Tyne
- Joe’s Kitchen, Nottingham
- Frankie & Benny’s, Redhill
- Frankie & Benny’s, Stafford
- Coast to Coast, Wembley
- Frankie & Benny’s, York