Ego Restaurants will be opening a new outlet in the former TSO unit on the corner of Princess Street and Clarence Street which forms part of Northern Assurance Buildings, a landmark Grade II-listed building designed by Manchester architects Waddington & Sons.
John Brady, partner of Brady's Chartered Surveyors who acted for Ego Restaurants, said: "Overlooking the picturesque landmarks of Albert Square, Manchester will be the tenth restaurant for the company which will continue to pioneer fresh Mediterranean cuisine in a casual stylish environment. A further ten sites are sought in the coming year."
In conjunction with the letting to Ego, the interior of the property is undergoing a comprehensive refurbishment programme with an aim of offering office occupiers high quality space.
The restaurant unit extends to a ground floor area of 1,820 sq ft and a basement of 2,130 sq ft and Ego has signed a new 20-year lease subject to five yearly upward-only reviews at a commencing rental of £85,000 per annum exclusive.
The premises is due to open for trade on Monday 9 November 2009 to coincide with the British Council Shopping Centre Conference which is being hosted by Manchester for the third time.
Alun Jones, partner of Edwards & Co, which advised the landlord The Wrather Group on the surrender negotiations with TSO and also the simultaneous re-letting to Ego, added: "This letting is a testament to the resilience of the Manchester market during difficult economic times, particularly as the rent has increased from that previously being paid by TSO of £75,000 per annum. Ego's excellent trading style will hugely compliment the quality restaurant offering in the vicinity which includes Piccolino and Croma."
King Sturge represented TSO on the surrender.