GLASGOW HAS REAL BUOYANCY IN THE RESTAURANT SECTOR

Alan Creevy, of CDLH Leisure & Hospitality Surveyors www.cdlh.co.uk recognised experts in the Hospitality property sector, looks back on 2011 with some surprising revelations on the popularity and growth of Glasgow’s buoyant restaurant sector.
Alan Creevy commented, “There is no doubt that the doom and gloom merchants were out in force in 2011. Realistically, there was very little growth in the economy as a whole and the leisure and hospitality sector did face significant challenges. However, we simply need to look at the new openings which took place within the Glasgow restaurant sector, which included Carluccio’s, Viva Brazil, Pesto as well as Costanzo Cacace’s Caprese Restaurant relocation from Buchanan Street to his new restaurant in Woodside Crescent. Gondola Restaurant group, which has brands including Pizza Express and Zizzi and sells over 30% of the chained Pizza market in the UK, is opening its new ASK Italian Restaurant adjacent to the Galleries Shopping centre. All of these new openings reflect the real confidence operators have in the city.
In addition to these new openings, we have seen a number of rebranded restaurants or re-openings including the Brooklyn Bar & Grill in the Merchant City and Veroni’s Italian Restaurant in West Regent Street and of course the iconic L’Ariosto complete refurbishment and refit as Barolo Restaurant on Mitchell Street.
At CDLH we believe these openings mark a testament to the popularity of Glasgow as a venue and the strength and resilience of the restaurant sector in general in the city. If the trend for the UK as a whole is reviewed, the expenditure on food in the UK eating out market, which is a £40 billion sector, dipped during 2009 as it did during the 1991 recession. However, in 2011, the trend returned to long term growth. There is no doubt that the austerity measures introduced by the current government will impact over 2012 and 2013.
However, as is often the case, national statistics and trends do not reflect localised trends. At CDLH, our experience of marketing Restaurants shows us that there is a very strong demand in the major Scottish cities not only from branded operators but also from a large number of very enthusiastic individual operators. It would appear, therefore, that, for 2012 and 2013, the Glasgow restaurant sector will continue to provide a robust return. The popularity of the city has certainly been assisted by landlords providing realistic rental terms which reflect the true trading potential of a particular property and location.
End – 421 Words
Prepared January 2012 for immediate release
Editor’s Note- Alan Creevy is a Chartered Surveyor on the RICS panel of Experts for Licensed Leisure & hotel property in Scotland.