The imminent arrival of Mexican street food brand Wahaca, Reds True BBQ and Caribbean restaurant Turtle Bay on Hanover Street will take the number of new food and drink signings in the past nine months to eight, according to Miles Dunnett, director of Grosvenor Fund Management.
Speaking to Place North West at the BCSC retail property conference, Dunnett said: “We are deliberately targeting a different market with these restaurants. The location opens up to the Ropewalks part of the city, and provides a standalone offer for the evening and daytime market but in an eclectic mix.”
According to the latest announcement from Grosvenor Fund Management, Wahaca and Reds True BBQ will share two floors of 111 to 116 Hanover Street, taking 6,833 sq ft and 4,336 sq ft respectively. Turtle Bay will be located at 123 to 124 Hanover Street, the two units combining to create a 3,066 sq ft restaurant. All three brands will be making their debut in the city. Wahaca and Reds True BBQ will open before Christmas, with Turtle Bay following in the New Year.
While Liverpool ONE is currently operating at a 0% retail vacancy according to Dunnett, there are also further leisure openings in the pipeline, including two 12,000 sq ft deals to international brands due to be announced on Paradise Street and South John Street in the next few months, and two further lettings on Hanover Street.
Dunnett said: “With sales, footfall and dwell all growing year-on-year, demand for space in Liverpool ONE is at its strongest, as reflected in these latest signings. Wahaca, Reds True BBQ and Turtle Bay each bring something very different to the city, and Liverpool ONE specifically, and will further increase its appeal as the most exciting retail and leisure destination in the North West.”
Latest figures from Liverpool ONE put catering sales up by 12.5%, ahead of the 8.6% increase in restaurant spending reported in a recent survey by Visa Europe and Markit.
Metis Real Estate Advisors and Cushman & Wakefield acted for Liverpool ONE. Wahaca dealt directly, and Syteways and JLL represented Reds True BBQ and Turtle Bay respectively.