La Roque, advised by leisure specialist Jenics, has agreed the surrender of a lease with Stonegate at 78 Deansgate, which is being replaced with a 25-year lease for New World Trading Company's Botanist bar and restaurant.
Stonegate Pub Company, owner of the bar and restaurant Label, has surrendered its lease on the 10,500 sq ft premises, which is owned by La Roque Trust Company and is located between Living Room and La Tasca.
The Botanist will be the second New World Trade Company venue in Manchester, following the Oast House in Spinningfields. Founded in 2011 and backed by the founders of Living Ventures Tim Bacon and Jeremy Roberts, the Deansgate site will bring its total bar and restaurant portfolio to six.
The venue should be open for business by early summer 2014 after a £1m refit.
The Botanist chain already has branches at Alderley Edge in Cheshire and within Trinity Leeds, and will be opening a further venue at St Werburgh, Street in Chester later this month.