Healthy food chain Itsu has announced it is to acquire up to six new branches this year, the first of which is due to open in Covent Garden’s new public square in May.
Situated on the corner of Drury Lane and Great Queen Street, the branch will have pride of place in the new public square that will ‘improve resident’s quality of life’ upon completion.
Itsu has signed a new 15-year lease from Wolfe Properties at a rate of £125k per annum, with a six month-rent free period, through property agents Shelley Sandzer. Ted Schama, who saw through the deal, said: “This is a prime unit in the centre of Covent Garden which will benefit from many day and night trading parts in the heart of London’s theatre land. Itsu beat off stiff competition to win the site.”
David Haimes, managing director of Itsu, told BigHospitality that while the Covent Garden site would help to ‘significantly improve the area,’ the company was looking to other sites to branch out to.
“We are working on opening between four and six branches in London at the moment, depending on what comes up. After Covent Garden opens in May, we will be looking to open the next one in the Notting Hill Gate area, pending planning permission, at the end of September.”
Itsu currently have eighteen sites across the capital, including one in Heathrow’s Terminal 5.
Westminster City Council and Camden Council hope to complete construction of the £640k square in Covent Garden by the summer, when it will become pedestrian area designed to reduce congestion and pollution.