The latest operator to sign up for new space at Basingstoke’s Festival Place, Five Guys, has opened its 3,200sq ft restaurant, joining the existing 11 restaurants operating in the centre’s main casual dining zone.
The arrival of the US burger chain operator reinforces Festival Place’s strategic leasing policy, which aims to increase the F&B provision to complement the traditional retail offer and position the centre as an all-day destination.
Russell Jewell, Head of Private Equity Funds at AEW, said: “The opening of Five Guys at Festival Place is a great endorsement for the transformation that has taken place at the centre under AEW’s leadership. The fact that Five Guys has signed a lease with us means that operators are buying in to our vision and believe in Festival Place as a destination.”
Since the beginning of the pandemic, Festival Place has also taken a strategic decision to grow its ‘grab and go’ casual dining offer with a dedicated zone inside the centre, which includes national operator Kokoro alongside emerging independent brands such as Asian street food operator Chi. Following a successful trading period post-lockdown, recent retail lettings at Festival Place include Skechers and Monsoon Accessorize, while more than 20 new leases/lease renewals have been agreed during 2021.
