Festival Place signs Nigerian food operator

Afrizi is the latest operator to sign up for new space at Basingstoke’s Festival Place. The independent restaurant, exclusively based within Festival Place, has signed a 5-year lease on 1,900 sq. ft at the scheme. Offering a wide range of food while caring for the planet, Afrizi only uses compostable containers & bamboo cutlery for takeaway while its interior design is made exclusively of upcycled materials.

Russell Jewell, Head of Private Equity Funds at AEW, said: “We see the evolution of our F&B offer as key to help ensure the success of Festival Place in the future. While the arrival of flagship brands like Five Guys or BrewDog are integral to our strategy, we strongly believe in the power of attracting localised and independent brands to differentiate our offer from other venues”

With more than 20 new leases/lease renewals agreed in the last 18 months, Festival Place (Basingstoke) is showcasing continued resilience and relevance as a key retail and leisure destination. In April 2022, F&B performed strongly within Festival Place with fast food reporting an uplift in revenue of +25.5 % vs. 2019.

Having launched in October 2002, Festival Place was acquired by AEW in 2015 and is the highest ranked shopping centre outside a major UK city. It is listed in the top 25 of the latest Global Data’s UK shopping centres report and sits within Trevor Wood Associates’ Premier League of shopping centres. The 1.1 million sq. ft retail and leisure destination features retail, dining and leisure brands such as Apple, H&M, M&S, Next, Waterstones and Five Guys alongside amenities including a Sports Centre with swimming pool and gym, a 10-screen Vue Cinema, a Flip Out trampoline park, Escape and indoor entertainment experience plus office space and a library.

Joint agents for Festival Place are Lunson Mitchenall and Cushman & Wakefield. CBRE is the managing agent for the centre.

 

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