Shoosmiths advises on Five Guys expansion
October, 2021 - Milton Keynes, England
Leading UK law firm Shoosmiths has advised AEW Europe LLP (AEW Europe) in its expansion, via a new Basingstoke Five Guys restaurant.
One of the most exciting food and beverage (F&B) operators in the UK market, the burger and fries chain has taken on a 15 year lease at Festival Place, Basingstoke. Strategic advice given by Shoosmiths was vital in finalising the transaction, securing vacant possession and allowing the new lease with Five Guys to be concluded. Real estate principal associate Nicholas Dalgleish led on the transaction, working with client partner Nathan Rees and real estate litigation senior associate Aimee Teague.
The new lease will allow Five Guys to join a host of existing food and beverage operators at Festival Place, including Cosy Club, Côte Brasserie, KOKORO, Pizza Express and Wagamama.
Simon Barrett, managing director and head of asset management at AEW Europe, said: “We are delighted to bring an exciting new operator, which will enhance the choice and future of restaurant development, for customers at Festival Place. This is a result of the hard work of a dedicated, professional team - who all continue to support us with all our strategic plans at the centre.”
Nicholas Dalgleish said: “This deal demonstrates that despite the challenges of the COVID-19 pandemic, activity within the UK F&B market remains strong with quality operators looking for space and opportunities. It shows that a modern and innovative centre, such as Festival Place, can attract exciting new brands - enhancing customer experience across this important business area.”
