Busaba makes Welsh debut with 4,000 sq ft letting at Orchard Street’s Brewery Quarter, Cardiff
Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has signed a c.4,000 sq ft letting with Thai restaurant chain Busaba at the Brewery Quarter, one of Cardiff’s leading leisure destinations. The company has agreed to a 15-year lease across the ground and terrace floors of the property, which will be home to Busaba’s first restaurant in Wales.
Spread across more than 65,000 sq ft, the Brewery Quarter has been purposefully designed to maximise both inside and outside space, a feature which has retained its popularity following the rise in outside dining during the past year, and which helped to largely insulate the scheme against the impacts of the pandemic. Busaba will further enhance the dynamic and diverse occupier line up at the scheme, whose current tenant mix includes Starbucks, Nando’s and Five Guys, alongside five other food and beverage tenants and two leisure offerings.
This follows an additional letting at the Brewery Quarter to leisure and entertainment specialist Boom: Battle Bar, which agreed to take c.12,000 sq ft across four units in the lower piazza towards the end of last year, and whose offering includes an eclectic mix of Bavarian Axe Throwing, Electric Darts, Crazier Golf and Beer Pong. These lettings reflect a sustained occupier demand for premier leisure destinations, and together, take the scheme to 90% full, with strong occupier interest for the remaining c. 7,000 sq ft unit located on the ground and first floor of the property.
Strategically located in the heart of Cardiff’s city centre, the Brewery Quarter sits in close proximity to the Principality Stadium, and benefits from the one million visitors the stadium receives each year. The site is easily accessible via public and private transport and sits within walking distance of over 3,000 parking spaces as well as the city’s two main train stations, Central Station and Queen Street Station.
Ed Bales, Retail Asset Manager at Orchard Street, commented: “The selection of the Brewery Quarter as the location for Busaba’s first Welsh store is testament to the asset’s strong leisure proposition and prime location in Cardiff’s thriving city centre, while the restaurant’s unique dining concept will further enhance its impressive offering. With restrictions now lifting, consumers are once again returning to city centres in search of the best dining and leisure offerings, underlining the enduring human desire to interact and share experiences together.”
Terry Harrison, Managing Director at Busaba, added: “We specifically chose Cardiff for our first new opening since the pandemic began, as we see it as not only a fantastic, lively and fast growing city, but also a place brimming with discerning diners, who we can’t wait to introduce the Busaba brand to. The prime location and excellent use of inside and outside space at the Brewery Quarter provides a vibrant setting that perfectly matches our creative dining ethos, and we look forward to opening our doors to the public on the 21st of October this year.”
Elliott Shuttleworth, CEO at Boom: Battle Bar, said: “We looked at a number of schemes in Cardiff when targeting the city but I’m delighted that we chose the Brewery Quarter. Due to its constant high footfall rates – both from the nearby retail attractions during the day, and from the plentiful nightlife offerings during the evening, the store is consistently one of our top performers.”
EJ Hales acted as the letting agent for Orchard Street and AG&G acted for Busaba.
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Orchard Street Investment Management
Established in 2004, Orchard Street Investment Management LLP is a leading specialist commercial property investment manager, focused on the UK market. It acts on behalf of institutional clients world-wide to advise on investing in and the active management of property assets, including industrial, retail warehouses, offices and shopping centres. Orchard Street currently has assets under management exceeding £4 billion.