Brewdog is the latest operator to sign up for new space at Basingstoke’s Festival Place. The Scottish brewery and pub operator has signed a 15-year lease on 4,883ft² and is targeting an opening date towards the end of March. This follows the recent arrival of Five Guys and is indicative of Festival Place’s strategic leasing policy, with a renewed emphasis on the food and beverage (F&B) provision to compliment the traditional retail offer.
Russell Jewell, Head of Private Equity Funds at AEW, said: “The arrival of a flagship brand like Brewdog is a strong endorsement of Festival Place’s evolving F&B offer and will be a welcome addition to our varied roster of operators in that category.”
Festival Place (Basingstoke) reported positive trading performances for 2021, with more than 20 new leases/lease renewals agreed, reflecting its continued resilience and relevance as a key retail and leisure destination. In January 2022, F&B performed strongly within Festival Place with fast food reporting an uplift in revenue of +18.5% vs. 2019 and many operators seeing double-digit growth.
