Our work - 04/01/2013

Acquisition of restaurants for Red Hot World Buffet

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Working alongside Red Hot World Buffet, we have lead a strategic nationwide expansion to assist in the development of the concept along with the promotion of this new dining experience to the wider leisure market.

The aim was to take the concept from three to nine units to facilitate further expansion through a sale of a minority stake in the company to a Private Equity Partner.

Considered approach key to planning

A target list of cities and subsequently, specific locations, was agreed with the client. Over a period of four years, the market was monitored; specific schemes and opportunities discussed, and presentations were made to landlords and institutions explaining the concept.

Significant expansion secured over four year period

From an initial base of three units in Nottingham, Northampton and Milton Keynes, a fourth unit was acquired in Liverpool. Subsequent units have been acquired in Leeds, Manchester, Cardiff and Leicester, in addition to a relocation in Nottingham into 26,000 sq ft in The Cornerhouse. Landlords now include Land Securities, CSC, Hammerson and Grosvenor Estates. Three other units are under offer and it is expected that between four and five units per year will be acquired in the foreseeable future.

Expansion brings considerable benefits to landlords

By explaining the new dining concept and benefits to landlords and shopping centres, advantageous terms including turnover deals have been secured.

Working closely with the client, a controlled expansion with significant benefits to landlords has been achieved. Large void accommodation has been filled and footfall increased dramatically throughout the day and evening.

Market-leading position for Red Hot World Buffet

Red Hot World Buffet have become the market leader in multi cuisine dining, leading to a minority sale in part of the company to a leading private equity house to assist in the future expansion of the chain.