Five Guys is the latest operator to sign up for new space at Basingstoke’s Festival Place. The burger brand has signed a 15-year lease on 3,200ft². This new deal is indicative of Festival Place’s strategic leasing policy, which aims to increase the food and beverage provision to compliment the traditional retail offer and position the centre as an all-day destination. Following a successful trading period post-lockdown, recent retail lettings at Festival Place include Skechers and Monsoon Accessorize, while more than 20 new leases/lease renewals have been agreed during 2021.
Since the beginning of the pandemic, Festival Place has also taken a strategic decision to grow its ‘grab and go’ casual dining offer with a dedicated zone, which includes national operator Kokoro alongside emerging independent brands such as Asian street food operator Chi.
Festival Place first opened in October 2002 and was acquired by AEW in 2015. It is the highest-ranked shopping centre both in Hampshire and outside a major UK city. The centre is located in the heart of Basingstoke, the seventh most affluent town in the UK and the largest in Hampshire. With some 1.7 million residents within a 30-minute drive and 11,500 office workers less than 10-minutes’ walk away, the 1.1 million sq. ft retail and leisure destination features retail, dining and leisure brands such as Apple, Next, SuperDry, TKMaxx, Pandora, Jack Wills, JD Sports and FatFace.