Lothbury Property Trust (LPT) has let the final unit in its retail holding at 300 High Street, Berkhamsted to Porters. Porters have operated successful restaurants across London and will move in alongside existing occupiers M&S Simply Food and Costa Coffee.
Lothbury purchased the new built terrace of retail property in May 2014 from LondonMetric Property PLC.
Former chairman of the Restaurant Association, Richard, Earl of Bradford, is involved in the opening of the first Porters new concept restaurant. With a lease agreed at £32.57 per sq ft, fit out of the new 3,070 sq ft contemporary restaurant with attractive outdoor seating area commenced at the beginning of January. Porters is due to open in May 2015.
Neil Wornham, director of Porters restaurant, commented: “Site selection for our new concept restaurant was incredibly important. We wanted to find somewhere that reflected the heritage that we have at Porters and would also provide somewhere memorable and exciting for customers. The new space at Berkhamsted is perfect.”
Amy Scanlan, at Lothbury Investment Management, the fund managers for LPT, said: “We are delighted to be welcoming experienced restaurateurs to open a new high quality restaurant that will complement the tenant mix at the fund’s holding in this affluent Hertfordshire commuter town.”
Shelley Sandzer acted on behalf of Lothbury Investment Management. Porters represented themselves.
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