TGI FRIDAYS IS COMING TO LINCOLN
Acting for the Landlord of the former Carluccio’s restaurant on Lincoln High Street, Banks Long & Co has closed a post-Covid deal with TGI Fridays which hopes to open before Christmas 2020.
The deal, negotiated whilst the country was in lockdown, demonstrates that Lincoln continues to be an attractive location for new investment set against a difficult national picture for the food and beverage (F&B) sector.
Tim Bradford, Managing Director of Banks Long & Co, said: “The Carluccio’s in Lincoln was not one of the restaurants bought out of administration by Boparan, better known for its Giraffe and Ed’s Easy Diner brands, so we had to move quickly to secure a new deal with TGI Fridays.”
TGI Fridays, which trades restaurants and bars all over the UK offering their unique American style branded venue, has been looking for a suitable site in Lincoln for some time.
“Banks Long works closely with a wide range of F&B businesses from national brands to local independents. We have an understanding of the market, not only in Lincoln but across the UK. This extensive reach allows us to structure deals even in very challenging post-Covid market conditions with excellent businesses such as TGIs which is keen to put its stamp on Lincoln.
“The new lease is for a long term, with no breaks and has delivered a seamless progression of occupation for the Landlord.
“This deal demonstrates that, with the right constructive approach adopted by both Landlord and Tenant, deals can be structured to suit both parties - a message which at Banks Long & Co we are keen to promote to allow our High Streets to rebuild after the acceleration of the structural change in our city centre trading environments.”