Ei Commercial Properties, the Ei Group business which manages a developing portfolio of assets leased to third parties, has further strengthened its relationship with Ego Restaurants and its Mediterranean-inspired brand.
Ei Commercial Properties has agreed a 20-year commercial free-of-tie lease for The Fox in the village of Haslington, Cheshire, which will reopen at the end of August following an extensive £600,000 refurbishment.
The Fox site is the second site Ego has taken with Ei Commercial Properties; the company also operates The Knowles Arms, Blackburn on a similar commercial lease basis. The revamped pub will be transformed to feature a 120-cover restaurant and bar, creating around 40 jobs.
Greg Parkes, Commercial Property Director at Ei Commercial Properties, said: “Our aim is to maximise the value of Ei Group assets using our expertise and partner with exciting, high-quality operators”.
“Ego absolutely meets that criteria and the new site is a prime example of the approach we take to deliver the right proposition, with the right commercial tenant prepared to invest significantly in the asset. We are proactively working with the team at Ego and are hopeful of identifying other potential sites across our estate for future projects.”
James Horler, Chief Executive of Ego Restaurants, added: “We are absolutely delighted to have reached agreement with Ei Commercial Properties on this site. We have a good relationship with Ei Group and its team and they are consistently very good to work with. The new site is located in a strong trading area for us with a good local customer base and we are confident that it will be a success.”
Ego Restaurants has 16 restaurants and pubs throughout the Midlands and North of England. The group’s offer of fresh Mediterranean-inspired classic dishes served by friendly staff in well maintained, friendly environments has been very successful. The company is chaired by industry investor Luke Johnson.